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28 October 2013 | Free Daily Analysis | EURUSD : BEARISH……REALLY?


Happy New Week Surfers.

Yesterday’s Report

Friday produced another near Doji Day on EUR/USD – Price Action travelling only 58pips and failing (yet again) to close above our 1.3815 Daily Critical Zone (DCZ). Not exactly a monumental close to the week.

Technical Analysis

Somewhat frustratingly, PA remains poised under the DCZ, seemingly without the energy to break it. technically there’s no reason the Bullish Trend won’t continue. Pivots remain in formation and the Charts are producing Higher Hi’s & Lo’s, albeit in a very small range currently. PA is reluctant to leave DP unattended so far today and I see no reason to think Short at all…..mmm, wonder why I am? It’s to do with the lack of run up PA has to Break the DCZ.

The Day Ahead

 

Not a big fan of Mondays and my bias is “devilishly” countertrend with little more than intuition to go by. I will go with the trend Long if it sets up but really can’t enter Short until confirmation of reversal. Confused…..be careful!

High Impact News – CET

3:00pm USD Pending Home Sales m/m

May your Monday be Marvellous.

Geoff Pyne  
CERTIFIED TRADER
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