Dear friends;

After our vacation period, here we are again with our daily analysis.

How did it go yesterday:

Looks like the Asian stocks are gaining  spotlight in the world economy.Moreover, there is a negative  data regarding the manufacturing index which is literally collapsed and it’s driving the investors crazy .Both the European and the Asian market are going bad. The price of crude oil is undergoing further declined.

Technical analysis

We reopen daily analysis with a  difficult scenario: EURUSD is completely unbalanced upward, with the daily channel breaking. Currently the price is licking at 1.1500 area and it is difficult to find references in the short term.The DP is far from being tested and it doesnt seem it will be tested today. The configuration of the triad is clearly bullish.

Plan of the day

The price is really unbalanced upward. We expect a retracement. In any case, we will move only if we have strong signals. Otherwise we will remain quite.

Significant economic news

None

Surfingthepips staff wishes you all a good day.

 

Daniele Angellotti Certified Trader | SurfingThePips.com