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23 June 2014 | Free Forex Analysis | EURUSD : RELUCTANT BEARS

DB 2306 H4
DB 2306 M30

Happy New Week Surfers.

Yesterday’s Report

The break away from 1.3600 remains on hold as PA remains around that level, in a now very familiar range. Friday’s trading was very much down & up, with no ground made in either direction. EUR/USD closed the week out at 1.3596.

Technical Analysis

 

Reflecting PA and I believe market sentiment, our Pivots are mixed, with DP tested. At this stage, traders appear to have rejected prices below our 1.3585 DCZ. The reaction to the Euro interest rate cut has failed to sustain the Bearish momentum. Whether this is an open invitation to the Bulls, is yet to be proven but I have to believe the lack of a sell off, is significant. I’m ‘suspiciously’ Bullish, on that premise.

The Day Ahead

 

Early News will keep me quiet this morning but may set the scene for the rest of the day. It’s Monday so steady as she goes.

High Impact News

9:00am EUR French Flash Manufacturing PMI

 

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

Magic Monday & Wonderful Week

Geoff Pyne  

CERTIFIED TRADER

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