Hi
Firstly I apologise for not publishing a blog yesterday. While I mentioned it may be difficult while I am away yesterday in the run up to Trader Talk Radio I simply forgot. I do apologise for that. I cant wait to get back to Singapore where I am a little better set up for these things..
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Lets see what EUR/USD may have install for us…
Well finally yesterday we saw a day where price didn’t cross 1.2330 and didn’t come back and finish where it started. The move was a big one with prices extention of 150 pips away from DP being a big distance.
Context
The Euro is starting to move as expectations of ECB help for Greece and Italy rises. I cant find an actual source for the speculation and remain a slight skeptic on the matter.
Technical Analysis
Daily pivot is above weekly pivot, I am expecting price today to come back an test DP, and then sit pretty falt while we await the FOMC minutes.
The Day Ahead –
I do like the long after a retest….
The pair is especially vulnerable to surprise news at the moment and still needs some caution.
Bias- My overall bias is still short, but I need to wait for some evidence.
NO TRADE:
Short entry: I would need a beak of DP. And a retracement to a lower high
Long Entry: I would be looking for a good reversal pattern off DP.
All the best
PBT
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