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26 July 2013 | Free Daily Analysis | EURUSD : FIVE MOVES IN A DAY

G’day Surfers – bouncy, bouncy!

Yesterday’s Report

It is becoming a bit of a habit lately and EUR/USD again, bounced around Daily Pivot (5 times on H1) before finally deciding that Long was the preferred direction. That didn’t occur until late into NY Session and made the day virtually untradeable for our strategy. We saw an opportunity to Short the market after a pullback from London session selling. There was no continuation however, as eventually, the Bulls retook control.

Technical Analysis

Daily Pivot has snuck 140 pips away from Weekly with 2 sessions remaining. With DP untested, you would expect at least one move today, will be South.

The Day Ahead

We didn’t get paid this week after very few orders were placed. It must be Summer in the Northern Hemisphere!! Whilst I grab a jumper here in OZ – I can covet:  “Here’s to the nights where the sand is your seat, the waves kiss your feet, your friends outnumber the stars, and even the chilliest of nights are still warmer than the cold one in your hand.”

Enjoy – you Northerners, enjoy!

Geoff Pyne  
CERTIFIED TRADER

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