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27 SEP 2012 | Free Daily Analysis | EURUSD : The Disc Is Broken

 

Hi Team,

Alert! I risk to looks like a broken disc today.
Yesterday’s Report

Very very poor range of pips yesterday, only 54 pips if we exclude the Asia session. How can you expect to make profit with no market? Yesterday we had a small entry long, trying to trade one of our Secret Pattern, but market didn’t have the power to trend so, “luckly” we ends up with a breakeven trade. Once again, thanks to our Free Trade Technique.

Technical Analysis

Here it comes the broken disc. Same situation as yesterday, EURUSD is still in the flag, Pivots are still mixed and market is not trending. Solution? Stay cold and wait to see price action reach one of our HotSpot and look for some Secret Pattern to trade. As usual. Sentiment is pretty like yesterday, I would prefere to find longs above the flag, with both our strategies, Intraday or Swing&Relax.


The Day Ahead
On M30 we see a support trendline forming which is not good for our strategy. Why? Because of the angle. Way to acute. We trade only flat angle trendline, so for me, right now, there’s only the resistance trendline (the upper side of the flag). I will look for Secret Patterns there and below if a decent support trendline will be formed later.

High Impact News
10:30am GBP
Current Account
Tentative EUR
Italian 10-y Bond Auction
2:30pm USD
Core Durable Goods Orders m/m
:00pm USD
Pending Home Sales m/m
Have a great day


Davide Franceschini | Chief Trader and Founder at SurfingThePips.com
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