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.
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