Like so many Monday’s before it, yesterday produced…..well……not much at all! A 42 pip range and a 20 pip fall is how it will be recorded so I see not much point in trying to analyse it – forget it happened!
The charts look a little more pleasing to the eye in respect of some pullback having occurred but is it enough, to enable Price Action to gather sufficient momentum to break 1.3815? EUR/USD has traded inside an 89 pip range since the NFP announcement a week ago. A tested Daily Pivot still leads a Bullish Pivot formation so Longs must be favoured. Still have this lingering pullback feeling though!
The Day Ahead
Maybe the BIG retracement is not ready – I’ll be looking Long but keeping a keen eye Short, in case it IS ready.
High Impact News – CET
|USD||Core Retail Sales m/m|
|USD||Retail Sales m/m|
|3:00pm||USD||CB Consumer Confidence|
Terrific Tuesday everyone.