Very interesting that with all of the volatility in the stock market, the forex market is fairly flat. We did get good range in the session, but EURUSD ended up right where it started. In fact, this whole week has been fairly flat on the US Dollar Index in general, which is a little unexpected. I will say, however, that this is August. August is generally the slowest month of the year for Forex, but based on everything going on globally, it seemed like it was going to be more volatile than usual. So far, my thoughts on this are mixed as we’re definitely seeing a slowdown in action versus what we say in the last two months. If the ranges start to narrow (as they did two days this week); INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_category`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES we may do our usual August thing and drop to permanent half size until they come back in September.
Winner on the GBPUSD call and loser on the EURUSD, half size ahead of Trade Balance, see below.
Here’s the US Dollar Index intraday with market directional levels:
New call and Chat tonight.
EURUSD:
Added a later call here since the GBPUSD went early, triggered long at A and stopped. Also triggered in the morning at B and stopped:
GBPUSD:
Triggered long at A, hit first target at B, moved stop under entry and stopped at C:
