Thirty nine pips was as far as EUR/USD was prepared to move yesterday and that simply, is not enough to trade. Traders appeared thin on the ground and perhaps were enjoying an extra long Easter break. No orders – no trades.
As I write this, a fire seems to have been lit under PA as it takes out the previous three day’s highs, perhaps intent on closing the still open gap from last week. Pivots are again quite compact and mixed however, congregating around DCZ 1.3815 which remains the centre of nonactivity. Still no bias as we enter our eighth trading day inside a 79 pip range. The spattering of news this morning may change that – the early signs are there.
The Day Ahead
No change – still looking for a breakout at a Hotspot.
High Impact News – CET
|9:00am||EUR||French Flash Manufacturing PMI|
|9:30am||EUR||German Flash Manufacturing PMI|
|4:00pm||USD||New Home Sales|
Wonderful Wednesday everyone.