EUR/USD paid 1.3700 a brief visit on Friday and found Support in the psychological level, that coincided with Monthly Pivot. PA bounced, closing the day 18 pips positive but the week, 42 pips negative. It being Friday – no trading for us.
DP is well tested as we begin NFP week, but lies between Weekly & Monthly, creating a Mixed Pivot formation. Still I see no immediate direction indicator and Monday of NFP week, is traditionally a quiet day. Without bias, I will keep risk very small and wait for the market to decide where we are headed.
The Day Ahead
As above – not overly keen to jump in just yet but as always, if the signal comes – we trade!
High Impact News – CET
|11:00am||EUR||CPI Flash Estimate y/y|
|3:55pm||USD||Fed Chair Yellen Speaks|
Magic Monday everyone.