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25 February 2014 | Free Daily Analysis | EURUSD : PROFITABLE DOJI DAY

DB 2502 H4
DB 2502 M30

G’day Surfers – We banked – did you?

Yesterday’s Report

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.

Technical Analysis

 

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.

Geoff Pyne  

CERTIFIED TRADER 

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