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5th May 2015 | Free Forex Analysis | EURUSD and EURJPY have a general positive trading

EURUSDH4 (5)

EURUSDM30 (5)

 

Dear Surfer friends, welcome to the usual daily market analysis.

How did it go yesterday?
As mentioned yesterday, the trendline drawn in area 1,100 seems to have rejected the new attack EURUSD bringing the price down to around 1.1060. We have found two signals S & R; the first on EURUSD, closed with the free trade technique; and the second on EURJPY in which the TP1 has been brought thanks to the stop-loss at breakeven

Technical analysis
Today the price has to decide where to go. Is not only the untested PD which longs the EURUSD; but also the order of the triad DWM that pushes upwards. It will be interesting if the false break of 1.1100 will give the impetus to the price rise towards the trendline drawn on the 4H chart.

Plan the day
The price is in a particular area. We are basically oriented towards long operations but, as always, we will follow what the method will tell us to do. Among other things in the European afternoon there is still one important news to be considered in our trading plan.

Significant economic news:

16:00 USD ISM Non-Manufacturing PMI

 

SurfingThePips staff wishes you all a good afternoon.

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