Monthly Archive: August 2011

Ranges Stay Tight 0

Ranges Stay Tight

The FX markets (majors) remain in tight ranges. We started off the week searching out trend, but we really didn’t expect much to come off a Monday. As we prepare for the second day of the week, we realize that this long summer is nearing its close, and that the markets will have to find direction before long.

Week Comes to Slow End 0

Week Comes to Slow End

Traders, we’ve been watching these levels hold on these very strange ranges. EURUSD is in a 500 pip range in what has to be the most fundamentally volatile month since 2008. We’re still trying to gauge market direction, and for that reason we’ve been very cautious. Trading Forex is not just about breakouts and fibs, it has plenty to do with understanding the overall market conditions, and these conditions suggest a storm is brewing. Below is the write up we offered in Premium. You’ll see (if you look at a live chart) that the markets behaved at that 8860 level....

USDCAD Continues to Run 0

USDCAD Continues to Run

Traders, we headed into London with the understanding that this tight range in the EURUSD has to break, and that trading Forex in these conditions is essentially a challenge due to one simple fact: this range is going to break, and when it does, it may be violent. Here’s that Premium post: Reasons for Consideration: With the EURUSD stuck in this triangle, we simply play the markets tight and watch this narrowing range. It’s all we can do. Our USDCAD trail remains, but it doesn’t look too healthy. Reasons for Concern: Breakouts of these narrowing ranges can be snappy. Many...