The Daily range of EUR/USD continues to shrivel, as though it were a male jumping into icy water. A paltry 17 pips yesterday as the build up to FOMC and NFP began. Remarkably, we found an entry Long on M30 and even more astounding, that trade remains active some 22hrs later!! As stated last week, I don’t believe in leaving my M30 trades open whilst I sleep.
The only real change from yesterday is that DP has been tested and still leads a Bearish Pivot formation. Once again, it’s very difficult to argue against the Bears’ case and it’s that bias I carry into the day ahead. No reversals or chart patterns are hinting at any change of direction but you’d expect that, considering there’s No PA.
The Day Ahead
We can but wait at our Hotspots and catch any movement that comes our way – Shorts the preference.
High Impact News
|4:00pm||USD||CB Consumer Confidence|
Terrific Tuesday everyone.