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27 May 2014 | Free Forex Analysis | EURUSD : 1.3700 BEGINS TO FADE

DB 2705 Daily
DB 2705 M30

G’day Surfers – I have that falling feeling.

Yesterday’s Report

 

Whilst UK & US Markets traded without traders yesterday, EUR/USD made a little progress clawing back 21 pips of the 76 lost during last week. The expected poor liquidity was evident – but we’re getting used to that!

Technical Analysis

 

DP is untested below PA, Pivots are in Bearish formation and the momentum appears Southbound. Apart from the Support Trendline on Daily Chart, I’m struggling to find a technical reason for the cross NOT to fall. This then is the Key level today and a break might see EUR/USD at 1.3500 fairly quickly. I’m not sure yesterday’s mini rally and can withstand the scrutiny of the now refreshed trading community.

The Day Ahead

 

The DP Test might just produce a decent ride – it’s Plan A for sure.

High Impact News – CET

2:30pm
USD Core Durable Goods Orders m/m
3:30pm EUR ECB President Draghi Speaks
4:00pm USD CB Consumer Confidence

Terriffic Tuesday everyone

Geoff Pyne  

CERTIFIED TRADER

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