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.