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24 July 2013 | Free Daily Analysis | EURUSD : MXED SIGNALS = MIXED BAG

G’day Surfers – close but – NO CIGAR!

Yesterday’s Report

Those trading our Signals should have traded Break Even yesterday whilst those in our Live Trading Webinar – took a small loss. TP1 on our Long Trade was there for a short time (Broker dependant) but I personally missed it, live in our webinar. Our second signal was a very similar order, again looking to Buy. The order timed out and despite our analysis getting it right – we went without pips yesterday.

Technical Analysis

EUR/USD is quietly achieving still and significantly, has taken out and is now re-testing, “Bernanke’s” High of a fortnight ago. A tested Daily Pivot (DP) has slipped 100 pips above Weekly but Monthly still spoils the perfect Bullish formation, wedged between the pair. 1.3200 appears key today, as does our Resistance Trendline #1 which is now also being re-tested. If it and 1.3200 hold, EUR/USD has some “blue sky” ahead. If not, the back side of our previous Resistance Trendline #2, could be a nice target.

The Day Ahead

First hour of London Session is plagued by News so we’ll have plenty of opportunity to gauge the mood of the market as we sit aside. Should they survive the potential volatility, both Resistance Trendlines are ideal places to look for more high side. Notwithstanding the potential for the early news to change everything, I’m Bullish and looking for Longs.

High Impact News – CET

9:00am EUR French Flash Manufacturing PMI
9:30am EUR German Flash Manufacturing PMI
2:30pm USD Core Durable Goods Orders m/m
USD Unemployment Claims

Wonderful Wednesday everyone.

Geoff Pyne  
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