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30 September 2013 | Free Daily Analysis | EURUSD : MORE OF THE SAME

Happy New Week Surfers.

Yesterday’s Report


EUR/USD remains in a 100 pip range, hovering above our 1.3450 Daily Critical Zone. The Fed’s Tapering backflip is still the dominant feature of the charts though Friday delivered a Double Top with a Weekly High of 1.3564.

Technical Analysis


The market gapped down over the weekend, creating the opposite effect to the Double Top so we begin the week being guided in different directions. Pivots are still Bullish with Weekly/Daily in very close proximity, suggesting Price Action won’t be too far away either.  I’m still awaiting a re-test of the former Resistance Trendline #1 so I’m Short Term Bearish but Medium term Bullish. Very aware that the Daily/Weekly Pivot magnet, is untested however.

The Day Ahead


There’s a lot of commentary speculating on events in particularly the US and Italy and it’s NFP week – could be a bumpy ride so I’m a little cautious. As per my analysis, I’m looking for some selling but would like the DP tested first.

High Impact News


Nothing scheduled but lots of TALK.

Magic Monday all.
Geoff Pyne  

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