EUR/USD rallied suddenly last Friday during European hours, only to see a sharp pullback during US trading session to end just under 1.375 - the levels when EUR/USD were just before the bullish breakout (see hourly chart below). As prices managed to hit close to 1.39 at the highest, this bullish breakout and the subsequent pullback accounted for a total of close to 300 pips within 12 hours, and this number increases to close to 350 pips if we take into consideration that prices were actually just under 1.37 during early Asian hours. This strong volatility is a textbook example of why trading during low volume holiday ... (full story)