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22 May 2014 | Free Forex Analysis | EURUSD : REVERSAL ON HOLD

DB 2205 H4
DB 2205 M30

G’day Surfers – no joy for the Bulls.

Yesterday’s Report


“If you’re long – you’re wrong” is an oldie but a goldie and appears totally apt, in relation to trading EUR/USD this week. There have been plenty of signs suggesting reversal was just around the corner but it appears the corner has a reverse camber! Again yesterday, we made an attempt to catch the rally that didn’t materialise and the Intraday Long order expired. Sadly, the S&R order from Tuesday triggered, but failed to deliver a TP1 and we suffered our second loss of the week. Fortunately our Risk Management has kept the damage to a minimum.

Technical Analysis


A changing of the guard has occurred with an imperfect Double Bottom replacing the failed Inverted Head & Shoulders, as potential game changer. Potential is the key word here and perhaps the Bearish Pivots and lower Hi’s & Lo’s command more respect?  An 88 pip range on FOMC Statement Day exemplifies the continuing compressed market that was again, indecisive.

The Day Ahead

Keen to get back into the winner’s circle but early news will keep me on the sidelines. Perhaps that news will set the scene and we can get back in the game. I’ll stick with the Bulls one more time but my allegiance is wearing thin.

High impact News – CET

9:00am EUR French Flash Manufacturing PMI
9:30am EUR German Flash Manufacturing PMI
USD Unemployment Claims
4:00pm USD Existing Home Sales

Enjoy your Thursday

Geoff Pyne  


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One Response to “22 May 2014 | Free Forex Analysis | EURUSD : REVERSAL ON HOLD”

  1. theyenguy May 24, 2014 at 9:59 pm #

    On Tuesday, May 13, 2014, the see saw destruction of fiat wealth commenced in the Eurozone on the failure of credit. specifically the failure of trust in the world central banks to continue to stimulate investment gains as well as global growth. With the trade lower in Italy’s Sovereign Debt, ITLY, and Italy, EWI, and the European Financials, EUFN, the world has passed through an inflection point: the world has pivoted from the age of credit into the age of debt servitude.

    Sovereign monies, that is Major World Currencies, DBV, such as the Euro, FXE, are now trading lower. This loss of seigniorage communicates a dwindling of sovereign authority.

    On Friday May 16, 2014, an unwinding of the Euro Yen Currency Carry Trade, that is EURJPY in nation investment in Ireland, EIRL, Greece, GREK, Italy, EWI, and Eurozone Stocks, EZU, as well as a derisking out of the European Financials Debt Trade, EUFN, introduced a see saw destruction of fiat wealth, and the age of debt servitude, and terminated all liberal things worthy of trust, such as a university education, home buying, and fiat wealth investing.

    Having perfect peak moral hazard wealth on Friday May 23, 2014, with the S&P 500, manifesting a blow off market top, Jesus Christ has closed the chapter on the book of economic life, which reads the age of gilded wealth, and has set sail on a new mission, that is the destruction of all fiat money and fiat wealth, and to produce the age of absolute poverty.

    The apostle Paul presents the concept in Ephesians 1:10, that Jesus Christ has been tasked with the economy of God, to mature and perfect all things in every age, bringing them to maturity and perfection, much like a ship’s captain completes the manifest before setting sail.

    It was Christ who acted to complete the age of currencies which was fathered by Milton Friedman with his Free To Choose Manifesto, and to perfect the age of credit which was fathered by Ben Bernanke with his QEs, Mario Draghi with his LTRO1, 2, and OMT, and Hiroki Kuroda, with this Abenomics.

    Each of economic geniuses, Bernanke, Draghi, and Kuroda, provided his own credit stimulus for trust in risk on investing; these birthed and defined the investor as the centerpiece of economic activity.

    God purposed for a debt based money system, and provided the Banker regime to establish currencies and credit to achieve His purposes. It was by God’s design from eternity past, and ongoing fulfillment of His will that the central bank leaders’ provision of currencies and credit, provided seigniorage, that is moneyness, for investment gain, and very little stimulus for economic recovery since the Great Recession, as the investor was ordained from eternity past to be the centerpiece of economic activity.

    Out of soon coming economic chaos, people will come to trust in new sovereign authority and monetary and economic policies of regional economic governance and schemes of debt servitude to establish regional security, stability, and sustainability, where the debt serf is the centerpiece of economic activity, and ever increasing poverty is the way of economic life.

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