EURUSD – the week in review on the 1H DIBS

It may be a while for posting any DIBS Chart books this week, but here is a quick review on the 1H chart of the EURUSD’s past week of DIBS. Some of the standout signals on the DIBS were

1.       Monday June 27th printed a 1H DIBS during London-NY session that triggered within 2-hours that triggered at the 4220’s. This was one of those early week DIBS breakouts that was able to survive the whole week as price spent the rest of the week in an up-channel in the build-up to Wednesday’s Greek parliament vote on the Austerity/Budget measures required for the next tranche of IMF bailout funds.

2.       Wednesday June 29th was a notable day as DIBS signals appeared both before and after the vote. The pre-vote signal just about got to 1:1 before the wild whip-saw during the voting process. The violent shakout then saw EURUSD consolidate with a “DIBS Coil” (i.e. 3 inside bars within consolidation during the late NY session / run-up to Thursday’s Asia session).

3.       Thursday and Friday were quite whippy days as EURUSD consolidated the gains post the Greek vote.

All in all this past week was an above average week on the volatility front as the pip range was 450pips verses a 52 week average of 356pips.

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