G’day Surfers – how high can Euro go?
Yesterday’s Report
No surprises yesterday as EUR/USD continued it’s surge Northward, piling on another 100 pips. No way for us to put any of those in our a/c because our strategy calls for the “heat” to come out of the buying prior to entry. No pullback = No entry for us!
Technical Analysis
Well if yesterday EURO was overbought, today it’s REALLY overbought and in big need of some retracement. Such is the feeding frenzy however, the technicals appear to be currently insignificant. That doesn’t mean we change our strategy, again – NO Pullback = NO Entry. The Blue Sky above we spoke of yesterday still exists suggesting more upside but it’s way too dangerous under our strategy to ignore the very stretched look that our Pivots are displaying. That DOESN’T mean we Short a rampaging Euro, it means we WAIT!
The Day Ahead
I need to see a mini crash to consider entering the market. The above technicals are screaming it to me. I need to see some previous Support/Resistance re-tested before I can get interested today. NFP eve may have a calming effect on the market though late Asia Session appears to be stirring for more action – my mind remains open – JUST.
High Impact News
| USD | Unemployment Claims |
Trust your Thursday is Thoroughly Thrilling
Geoff Pyne
CERTIFIED TRADER
G’day Surfers – how high can Euro go?
Yesterday’s Report
No surprises yesterday as EUR/USD continued it’s surge Northward, piling on another 100 pips. No way for us to put any of those in our a/c because our strategy calls for the “heat” to come out of the buying prior to entry. No pullback = No entry for us!
Technical Analysis
Well if yesterday EURO was overbought, today it’s REALLY overbought and in big need of some retracement. Such is the feeding frenzy however, the technicals appear to be currently insignificant. That doesn’t mean we change our strategy, again – NO Pullback = NO Entry. The Blue Sky above we spoke of yesterday still exists suggesting more upside but it’s way too dangerous under our strategy to ignore the very stretched look that our Pivots are displaying. That DOESN’T mean we Short a rampaging Euro, it means we WAIT!
The Day Ahead
I need to see a mini crash to consider entering the market. The above technicals are screaming it to me. I need to see some previous Support/Resistance re-tested before I can get interested today. NFP eve may have a calming effect on the market though late Asia Session appears to be stirring for more action – my mind remains open – JUST.
High Impact News
| USD | Unemployment Claims |
Trust your Thursday is Thoroughly Thrilling
Geoff Pyne
CERTIFIED TRADER
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