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27 January 2014 | Free Daily Analysis | EURUSD : ALL ABOUT 1.3700

DB 2701 H4
DB 2701 M30

Happy New Week Surfers.

Yesterday’s Report

 

EUR/USD spent a brief period above our Daily Critical Zone (DCZ) of 1.3700  on Friday, before the psychological level regained its Resistance authority. The “hour of power” was the ONLY movement on an otherwise ‘Fruitless Friday’.

Technical Analysis

 

An untested Daily Pivot has huddled slightly above Weekly, the pair beckoning, below Price Action as we begin the final week of January. This confirms a Mixed scenario, with Monthly hovering to the North. Thursday’s 170 pip rally looks to have stung the market and consolidation is well underway. Our DCZ appears the Key level today and my bias is Short, based on the Resistance it provides coupled with the untested DP below.

The Day Ahead

 

Plan A is to look for a Short to DP. Not expecting lots of action on “Meandering Monday” (though there’s a bit of News about) – let’s hope there’s enough to get us our rewards.

High Impact News

10:00am EUR German Ifo Business Climate
4:00pm USD New Home Sales

Magic Monday all.

Geoff Pyne  
CERTIFIED TRADER
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