Sixty five down – one hundred and fifteen up - forty down DOES NOT sound like your typical Monday EUR/USD market. Probably because it wasn’t. Seven Medium to High impact news releases would be the prime suspect in this case but whatever it was – the market was crazy. We attempted a Long entry, early in London Session but that was the first “down” part of the day and PA stayed away – until late into US Session, after the order expired.
Crazy Monday market – crazy Tuesday Chart. As I write this, the previous 24xM30 candles have been locked in a 17 pip range. Though DP has snuggled up to WP, the Pivot formation remains mixed – a great reflection of the intraday charts! We shouldn’t wonder that PA is reluctant to stray from the 1.3815 DCZ – it’s the current ‘make or break’ price level – perhaps we’re here for a bit. PA sits in No Man’s Land so I’m relying early news to bring our Hotspots into play.
The Day Ahead
I’m completely without bias today and prepared to accept what sets up.
High Impact News – CET
|10:00am||EUR||German Ifo Business Climate|
|3:00pm||USD||CB Consumer Confidence|
|USD||New Home Sales|
Terrific Tuesday everyone.
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