It must be getting boring to read but it continues to pay the bills…….picking off pips from tiny movements. Yesterday’s entry was a little tougher to spot but once again found the acceleration point and this time, we took 33 pips from the day’s meagre and indecisive range of 49 pips.
EUR/USD remains bound by a strengthening Bearish continuation Flag #1 whose Low, sits on a Fibo Support Level #2. These conflicting signals are contributing to the tight range in which the cross is trading. Pivots remain Bearish, as does my sentiment. A massive News day should ensure that this consolidation ends today but it might be tricky timing an entry. Like all good scouts – BE PREPARED .…….Hot Spots ready!
The Day Ahead
Dodging news, I hope to find a Short but the fundamentals may well shape the day’s direction and I won’t be keen to give the brokers anything back.
High Impact News -CET
|9:00am||EUR||French Flash Manufacturing PMI|
|9:30am||EUR||German Flash Manufacturing PMI|
|4:00pm||USD||Existing Home Sales|
Have a great Thursday.