EUR/USD was unable to sustain life above the 1.2700 on Friday, returning to once again take up residence around DCZ 1.2645..
The bounce on Thursday off Monthly Pivot and DCZ 1.2775 appears an ominous message to the Bulls from the Bears – “we’re baacck”! 1.2645’s tenuous hold on PA will be seen as the cliff over which EUR/USD will tumble, should it fail to Support the cross. Pivots remain mixed and DP has been both tested and is currently being re-tested. Tough not to be Bearish.
The Day Ahead
US Bank Holidays are no go zones for us so I’ll enjoy an extended weekend and get back to work tomorrow.
Have a great week Surfers.