G’day Surfers – well absolutely no surprise that yesterday was a doji day. The market simply doesn’t know where to go from here. As we discussed yesterday, mixed signals were everywhere and price action played that out to the letter. Therefore, no safe entries into this mish mash.
Today, the big picture is obviously quite similar (given no direction yesterday). One very important piece of the puzzle did occur during US session…..our previous strong resistance level of 1.3285 was tested from above and rejected. Price action since then, has slowly edged Northward. Still I see no clear direction however and price action appears glued to DP which is the lynch pin of a mixed trio. My sentiment remains bullish but I’m very cautious again.
We have a few lines to play with today but again, I’m not super keen on any given the lack of testing. I’m hoping price action will give us more testing of either resistance of support before they make their move. That will make our Hotspots far safer and more reliable. As usual – wait for the AAA’s and mind you’re account management.
Have a happy day,
Geoff |Certified SurfingThePips.com Trader
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