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.
Trading Forex successfully is about understanding intermarket analysis.
News of a bank merger in Greece strengthened the risk rally, and we approach this Tuesday open in London realizing that the worst may be behind Greek banks (for the time being), and that money may flow back into these markets in a rush.
Premiums will note the nice response we’ve had off the 6434 level.