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28 July 2014 | Free Forex Analysis | EURUSD : ON THE SLIDE

DB 2807 Daily
DB 2807 M30

Happy New week Surfers

Yesterday’s Report

 

The Bears continued their recent dominance on Friday, taking 54 pips off EUR/USD and leaving the previous 2014 low and DCZ 1.3485 behind.

Technical Analysis

 

That scenario looks ominous and the Bearish momentum and trend looks set to continue. Thursday’s doji day has allowed WP to close ground on Daily, relieving the ‘oversold” concerns   and the ONLY Bullish sign, is an untested DP above PA. I would like to see that change, then it’s all about the Bears.

The Day Ahead

 

It would be cheeky to trade Long today and it isn’t a strong consideration. If the DP test opportunity arrives, a small stake counter trend MIGHT be considered – otherwise its Short for the first day of FOMC/NFP week.

High Impact News – CET

4:00pm USD Pending Home Sales m/m
 

Magic Monday & Wonderful Week

Geoff Pyne  

CERTIFIED TRADER

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