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6th May 2015 | Free Forex Analysis | EURUSD High Afternoon

EURUSDH4 (6)

EURUSDM30 (6)

Dear Surfer Friends, welcome to our daily analysis

 

How did it go yesterday?

Interesting day yesterday. The price has created a clear false break of the 1.1100 support and then it went over 1.1250 today. Any operation for us today.

Technical analysis

Today there is a new test of the trendline drawn around 1.1270 on the H4 chart. The DP has not yet been tested (in fact, the price is quite far from doing it) while the triad DWM is still oriented towards long positions.

Plan the day

It should not be excluded that a new retest from the trend line could have a breakage. Obviously, the trend line could again reject the price. However, we are ready to follow the price action. Take into account the misalignment between untested DP (preferably looking at short positions) and the order of the triad. We must pay attention to the upcoming news from this afternoon (GMT+1) since they won’t let us operate due to the high intrinsic risk.

Relevant economic news:

Past
2:15pm USD ADP Non-Farm Employment Change
2:30pm USD Prelim Unit Labor Costs q/q

Upcoming
3:15pm USD Fed Chair Yellen Speaks

 
SurfingThePips staff wishes you all a good afternoon.

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