Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Tuesday, 4 February 2014

EURUSD

I was lecturing yesterday, so not able to post. However, following on from my weekend summary which was a rebuttal of the roaring bears, we have indeed had a move uphill. Price action is currently peppering yesterday's high and is trading above the daily pivot with the hourly momentum study behaving bullishly. Right above at 1.3550-1.3560 zone is the 5,20 & 80 day FLDs in a confluence along with R1 for the day. Given the 5+10 trend band has turned bullish, I'd expect consolidation to be in that area, with the top of the 10 day price envelope, currently there too. However it rolls, a break through there will leave a vacuum to the 10 & 40 day FLDs sat at 1.3680.  Now that looks a great place to reassess matters for bulls and bears alike. Do have a read of the weekend cyclic phasing report if you have not done so.

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