If not remarkably, then certainly frustratingly; EUR/USD ‘put in’ another sub 40 pip range yesterday, this time 36! Only one intraday setup in that lot but PA ignored our Long order so no trade. Ditto our second S&R order which is yet to be filled. The first S&R of the week failed to find (because it isn’t there) enough market momentum to produce a free trade and closed out at -25.
I’m considering releasing this as a single in the hope it will make the Billboard charts. Yes, it’s the same again as we enter the sixth day of no range and no market…..1.3700 is the key. Pivots have returned to Bearish formation but an Ascending Triangle #1 counters that & I still see no clear direction! The nicely defined Pennant #2, suggests a break is not far away. With tonight’s FOMC statement, it may come.
The Day Ahead
I’m a bit of a Triangle fan so favouring a Long breakout but prepared for anything off either side of the Pennant.
High Impact News
|USD||FOMC Meeting Minutes|
Wonderful Wednesday everyone.