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22 July 2014 | Free Forex Analysis | EURUSD : ANY SLOWER, MARKET WILL REVERSE

DB 2207 H4
DB 2207 M30

G’day Surfers, it’s a long drawn out process.

Yesterday’s Report

 

When it takes fourteen and a half hours between entry and TP1 on an M30 Trade – you KNOW there is no market. That’s precisely the scenario that took place yesterday, as we were triggered Long at our second attempt. Those who chose to leave the trade run, remain in that free trade a further five hours on. I must confess I’m not among you as I closed prior to retiring last evening, slightly positive. After 3 tiny doji days, I begin to wonder what’s going on?

Technical Analysis

Having spent four days bouncing up and down at sea (two in 8mtr swells), the irony of leaving the completely FLAT market behind, has not escaped me. There is no way to analyse this consolidation, only wait for it to end. The ONLY significant technical trait I find is the descending Channel #1 and PA’s location within it. The high side looks appealing, especially where it is in confluence with DCZ 1.3585. Pivots remain Bearish and DP was tested earlier.

The Day Ahead

If I have a bias, that confluence is it’s cause so I will seek to find a Long, should PA actually exist!

High Impact News - CET

2:30pm USD Core CPI m/m
4:00pm USD Existing Home Sales

Terrific Tuesday everyone.

Geoff Pyne  

CERTIFIED TRADER

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