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30 September 2014 | Free Forex Analysis | EURUSD : DP TEST A LITTLE LATE

DB 3009 M30
DB 3009 H4

G’day Surfers – we had the right ideas.

Yesterday’s Report

 

EUR/USD’s reliability when it comes to testing the DP, is well documented and a fact to which we pay much attention. Yesterday was one of those days where it’s extremely difficult to trade the potential ‘routine’ visitation, due to the extremely strong trend in the opposite direction. Nonetheless, an STP setup grabbed our attention early in the day and we placed the small stake order. The order expired prior to PA testing it to the pip, a few hours later. We found two other setups throughout the day but both also failed to trigger. The S&R Strategy found a setup on EUR/JPY. That Short has triggered and is currently in slightly negative territory.

Technical Analysis

 

Yesterday’s Doji day is probably what you’d expect on NFP Week Monday and the second last day of a very negative September. EUR/USD is in need of a rest and may well choose NFP Week to take it. That said, trading counter trend will only be contemplated at very small stakes.

The Day Ahead

The overwhelming trend remains Short but I’m thinking consolidation so am favouring trading within the DS-1/DR-1 areas. As usual – if PA shows me otherwise, I’ll react appropriately.

High Impact News-CET

11:00am EUR CPI Flash Estimate y/y
4:00pm USD CB Consumer Confidence

 

Have a Terrific Tuesday All.

Geoff Pyne  

CERTIFIED TRADER

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