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26th August 2015 | Free Forex Analysis | EURUSD, retest the trendline

 

 

 

EURUSDM30(1)

 

 

EURUSDH4(2)

 

Dear friends;

Let’s take a look at the market

How did it go yesterday:
As we predicted, the market yesterday was unbalanced up and needed to retrace  provoking the test of the support trendline (previous resistance).Two signals for us yesterday, both expired.

Technical analysis

Today the price will  decide whether to bounce on the support or re-enter the channel. Our bias is still bullish considering the configuration of our beloved triad DWM. The DP has already been tested so it gives us more details.

Plan of the day

We have two trendline quite clear, a resistance and a support. The latter insist in a area close to the dailytrendline spotlighted in these days.The bias is bullish but we will eventually consider short position Today could be a special day because of the FOMC that brings our attention.

 

Significant economic news

2:30 pm USD Core Durable Goods Orders m / m

4:00 pm USD FOMC Member Dudley Speaks

 

Surfingthepips staff wishes you all a good day.

 

Daniele Angellotti Certified Trader | SurfingThePips.com

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