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26 September 2014 | Free Forex Analysis | EURUSD : LITTLE PSYCHOLOGICAL REJECTION

G’day Surfers – market says no to 1.2700.

Yesterday’s Report

I was happy to be a spectator yesterday, believing enough EURO blood had spilled and that consolidation was in order. London Session seemed to disagree with me and the voracious bears continued the ‘kill’. The story changed at 1.2700 as the market made a statement that it was not ready to concede ground below that level. Consequently, we saw a bit of buying and the day closed in the mid 1.27’s. No entry was contemplated so the week finished 100% positive with a couple of nice targets hit.

Technical Analysis

It will be interesting to open the charts on Monday to see if the plunge into the abyss has been avoided.

The Day Ahead

Not sure where it began but there exists this crazy tradition known as ‘Spring Cleaning”. It is of course Spring in the Southern Hemisphere and the good woman of the house says – it’s time, let’s follow the tradition……..

My weekend is doomed – hope yours is wonderful.

Geoff Pyne  

CERTIFIED TRADER

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