Since not all countries do the time change the same weekend anymore, we have seen an impact on trading the last couple of years when certain countries change their time zone over the weekend but others do not. Since Forex is the offset of two currencies and requires that both sides participates, the technicals of a pair can be thrown off by one country shifting their clocks by an hour when another does not. This then leads to a dull session for a day until the technical realign. We say that in this session, which was probably made worse by the fact that we have a Fed announcement tomorrow. So we ended up with about 60 pips of range in the EURUSD, 20 of that late in the session. See EURUSD section below for the recap.
Here’s the US Dollar Index intraday with our market directional lines:
New calls and Chat tonight, but half size ahead of the Fed tomorrow.
EURUSD:
Triggered short at A and stopped at B. Triggered long at C and stopped at D, put them both back in in the morning. Triggered long at E and closed at F for 20 pip gain as it hadn’t reached first target and the session was ending (and dull):
