Our last trading day seems that long ago, it really is insignificant so let’s move on to the current market.
Not surprisingly given the Holiday period, four of the last five days have been Doji days for EUR/USD so the market may take some time to ‘find it’s feet’ today. Indeed, when I consider the previous eleven trading days, I note a range of only 53 pips! Still hugging the 1.3815 DCZ, PA yesterday slipped below that level and we begin the week with a just tested DP above PA, having crossed both WP and MP yesterday, to produce a mixed pivot formation. Still an open gap to the North. So really, direction is guess work. No bias at all.
The Day Ahead
Would like to see some PA (and it’s due) to guide the way. I’ll be watching at Hotspots as usual.
High Impact News – CET
|Existing Home Sales
Terrific Tuesday everyone.