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25 September 2013 | Free Daily Analysis | EURUSD : COUNTER TREND PROFIT

G’day Surfers – Counter Trend, Counter Bias, Counting Profits!

Yesterday’s Report


Very few opportunities to enter the market yesterday and everything looked Bullish. The records will indicate that EUR/USD fell 38 pips in a tight 54 pip range. Our trading record will indicate we saw the opportunity to trade the Short (completely against our bias & the trend) and we traded to target. The StP mantra remains: Trade what you see, NOT what you think.

Technical Analysis


The continuation Flag of yesterday has grown somewhat but I can see precious little difference in the charts. A to date untested Daily Pivot (DP) has closed in on Weekly (WP) but still leads a perfect Bullish formation. EUR/USD seems to have found a base in WP and this looks an ideal place to begin the next Bullish phase. So too, does our 1.3450 Daily Critical Zone, which beckons to the South!!

The Day Ahead


Still keen to get Long, but Hotspots are hard to find – PA needs to provide assistance here – I’m sure it will.

High Impact News – CET


2:30pm USD Core Durable Goods Orders m/m
4:00pm USD New Home Sales

Wonderful Wednesday Everyone

Geoff Pyne  

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