G’day Surfers – we did it again!
That “sneaky” Short we mentioned yesterday was the ONLY setup on a choppy day for EUR/USD. Price Action (PA) wedged itself between our S/R Trendlines, produced a perfect Buy OR Sell opportunity which we took and banked both profits. The release later in the Day of the Fed’s latest Minutes, produced a whipsaw before the market settled at our Support Trendline #1.
That Support Trendline has been home to PA for the duration of Asia Session – midway between an untested Daily Pivot (DP) to the North & Weekly to the South. The Bullish formation is intact and the re-test of former Resistance Trendline #2, complete. With no sign of a reversal pattern in the Chart, I too remain Bullish and the main question for me is: “has the retracement ended yet”?
The Day Ahead
The scene is set then, for the Bullish Trend to continue post retracement and finding an entry to join that, is Plan A. Perhaps a false break of PA’s current “home” will afford us the opportunity but early news may pull things out of shape a little. I’m hoping it’s just a “little”.
High Impact News – C.E.T.
|9:00am||EUR||French Flash Manufacturing PMI|
|9:30am||EUR||German Flash Manufacturing PMI|
Have a great Thursday all.