It’s not quite a Doji, but yesterday’s Daily Candle replicates the previous two, as though they were triplets. Again we witnessed the reluctance of the Bears to ‘go on with the job’, having spent late Asia/early European sessions, merrily selling. Just like the previous two days however, 1.3600 drew them back and any chance of direction with it. EUR/JPY caught our attention and we have a Swing & relax order ready to catch a move from the buyers – it’s not yet filled.
An indecisive yesterday, means a NO Change today, at least from an analysis stand point. As consolidation becomes congestion, we expect a break but direction remains a mystery as does the strength behind it. Our Free Trade Technique shines under these conditions as safety and capital protection escalate in importance. Good Hotspots so high expectation – just not sure which way!!
The Day Ahead
I remain in the belief that the 2014 Low (right on our 1.3475) is due a Test so I’m looking for Shorts. Again, early news has me watchful to begin the day.
High Impact News - CET
|10:00am||EUR||German Ifo Business Climate|
|4:00pm||USD||CB Consumer Confidence|
|USD||New Home Sales|
Terrifc Tuesday, Team.