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28 JAN 2013 | Free Daily Analysis | EURUSD : Beautiful Daily Horizontal Levels28 JAN 2013 | Free Daily Analysis | EURUSD : Beautiful Daily Horizontal Levels

28 JAN 2013 | Free Daily Analysis | EURUSD : Beautiful Daily Horizontal Levels28 JAN 2013 | Free Daily Analysis | EURUSD : Beautiful Daily Horizontal Levels -->


G’day Surfers

Yesterday’s Report

No trade on Friday as usual. Nice to see how price action is finding resistance exactly on our Daily Critical Zones. Our horizontal daily lines. Beautiful!

Technical Analysis

Clear No Long No Short situation. Trend is bullish on almost every time-frame except the super small ones. Impossibile to short this beast until I see a clear reversal pattern, at least on M30 chart. As I wrote before price is finding resistance on our 1.3450 area. Next stop would be 1.3700, time to rest a little bit here. We dont have any dynamic resistance line to play with (trendline), I just see a support line but is almost 100 pips from the price right now. It could easily be a no trade day for me.

The Day Ahead

As I wrote before it’s a clear No Long No Short situation. Trend is too strong to go short, price is way overbought to go long. Daily Pivot has not been tested yet and we are sitting on our Daily Critical Zone. Let’s wait for some price pattern on M30 or H1 to appear on the chart before take any decision. Bullish flag, pennant or bearish double top/head&shoulder.

High Impact News

2:30pm CET USD Core Durable Goods Orders m/m
4:00pm CET USD Pending Home Sales m/m

Have a great week Surfers!

Davide Franceschini

CHIEF TRADER


G’day Surfers

Yesterday’s Report

No trade on Friday as usual. Nice to see how price action is finding resistance exactly on our Daily Critical Zones. Our horizontal daily lines. Beautiful!

Technical Analysis

Clear No Long No Short situation. Trend is bullish on almost every time-frame except the super small ones. Impossibile to short this beast until I see a clear reversal pattern, at least on M30 chart. As I wrote before price is finding resistance on our 1.3450 area. Next stop would be 1.3700, time to rest a little bit here. We dont have any dynamic resistance line to play with (trendline), I just see a support line but is almost 100 pips from the price right now. It could easily be a no trade day for me.

The Day Ahead

As I wrote before it’s a clear No Long No Short situation. Trend is too strong to go short, price is way overbought to go long. Daily Pivot has not been tested yet and we are sitting on our Daily Critical Zone. Let’s wait for some price pattern on M30 or H1 to appear on the chart before take any decision. Bullish flag, pennant or bearish double top/head&shoulder.

High Impact News

2:30pm CET USD Core Durable Goods Orders m/m
4:00pm CET USD Pending Home Sales m/m

Have a great week Surfers!

Davide Franceschini

CHIEF TRADER

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