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29 April 2013 | Free Daily Analysis | EURUSD : ……..and THE BEAT GOES ON


 

Happy New Week Surfers – indeed the biggest of the Month.

Yesterday’s Report

My expectations were to start NFP week somewhere outside the near Month long “residency” between 1.3030 & 1.3115……..WRONG! Despite “straying” for a few days last week, EUR/USD once again, fought it’s way back above 1.3030 on Friday, which is best described as a boring day that ranged just 56 pips. I do hope you found a better way to spend your time.

Technical Analysis

The longer this to-ing & fro-ing continues the more difficult it becomes to form a bias. Dependant on the Chart I view,  I see the market breaking differently. All the more important to define our Hotspots and await good setups. Our Pivots are Bullish for the first time in over a week and I can certainly be persuaded by a now very large Bullish continuation Flag #1 that the next move is North.

The Day Ahead

We are blessed with two very nice Hotspots today, I’m particularly fond of our Resistance Hotspot. Favouring a Long entry but would not be surprised if Price Action wants a second test of a near combined Daily/Weekly Pivot prior to launch.

High Impact News

Tentative EUR Italian 10-y Bond Auction
4:00pm USD Pending Home Sales m/m

May Moving week be kind to you.

Geoff Pyne  
CERTIFIED TRADER

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