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31 May 2013 | Free Daily Analysis | EURUSD : MORE PIPS AS RALLY CONTINUES

G’day Surfers – magnet fails to attract but we got the pips.

Yesterday’s Report

It rarely happens that EUR/USD does not respond to the magnetic attraction of a combined Daily/Weekly Pivot but yesterday was such a rarity. We saw an opportunity to trade the expected Short to DP in our Free Live Webinar and placed the order. As that order timed out, a second Secret Surfing The Pips Candle Pattern told us that North was the direction we must look toward and we did. A fast TP1 was achieved but TP2 took some time to come and barely triggered (on a couple of brokers it didn’t) before retracing, in preparation for the next leg of the current rally. Another relatively quiet trading week as EUR/USD continues to struggle to break free of the long term range. Good news is – it was again positive and the weekend is care free.

Technical Analysis

Now back in the “comfort zone” (our 1.3030/1.3115 DCZ range), will EUR/USD continue on without testing DP for a second day??? It’s Friday – I don’t really care!

The Day Ahead

A little bit of work, before a little bit of play - sounds like a nice balance. It’s worth remembering that the average person living to 70yrs of age, has 613,000 hrs to fill. It’s way too long a period not to have fun!!

Have a great weekend – do some fun things everyone.

Geoff Pyne  
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