G’day Surfers – We banked – did you?
Doji days don’t provide us with many trading opportunities but we were presented with two yesterday – both Long. #1 expired but #2 found the day’s acceleration point beautifully. We closed at 1st Resistance. Those who didn’t, would still be Free Trading.
DP has re-crossed Weekly to head up a Bullish Pivot formation but PA seems very cosy in No Man’s Land, around 1.3750. Now approaching the ‘pointy end’ of the Pennant formed by Higher Lows and Lower Highs, I’d expect that consolidation to end soon. It must be said that EUR/USD lacks direction right now however. A Double Top suggests that a breakout Short, is not out of the question.
The Day Ahead
Only a decent setup will convince me which way to trade today, despite a slight Bullish preference.
High Impact News – CET
|4:00pm||USD||CB Consumer Confidence|
Terrific Tuesday everyone.
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