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30 NOV 2012 | Free Daily Analysis | EURUSD : NO INVITATION

G’day Surfers – THEY SAILED WITHOUT US.

Yesterday’s Report

EUR/USD continues to act technically but refuses to allow us into the ride North. The only opportunity for our strategy to jump on board came an hour prior to our trading room being open for business. We were expecting Price Action to pay DP a visit and an opportunity arose so out went the order.  Such was the consistency of the EURO buying, our order was entirely ignored. In fact, no pullbacks were afforded us until very late in London Session. We jumped on the opportunity and were rewarded with a TP-1 but sadly High Impact News volatility took us out with a Break Even result. So despite our analysis being spot on, we have nothing to show for it. Sometimes you just have to accept it when the market won’t provide a payday – that’s trading.

Technical Analysis

Nothing has changed for me as EUR/USD continues it’s journey North and 1.3080 remains as the curtain comes down on a week I’ll remember as the week EUR/USD returned to it’s technical best but forgot to post my party invitation.

The Day Ahead

Hovering around 40deg C here on the Aussie East Coast so it’s a long cool one by the pool. Trust you find something as equally appealing to start the weekend and if like me you didn’t manage to jump on EUR/USD before it sailed, there’s always next week:

I missed the boat once when I was young and stupid, but now I am able to miss the boat repeatedly with great skill and accuracy.

Jon Fishmen of Phish

Have a great weekend everyone.

 

Davide Franceschini | Chief Trader and Founder at SurfingThePips.com
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