Disliked{quote} you were talking about short so long, now you switch your costume to a bull? careful your old wish could come true for few days.Ignored
this just concluded week recorded the lowest weekly range in 2020 (1.3142 - 1.3004) being 138 pips. In fact August so far has done only 287 pips range (1.3267 - 1.2980).
WHY THIS SLOW MOTION?
Looking into previous Months that have range of over 580 pips and the months that followed such months ...
May 2019 (1.3176 - 1.2558) 618 pips.
June 2019 (1.2783 - 1.2505) 278 pips
July 2019 (1.2705 - 1.2119) 586 pips.
August 2019 (1.2309 - 1.2014) 295 pips
October 2019 (1.3012 - 1.2195) 817 pips
November 2019 (1.2985 - 1.2768) 217 pips
December 2019 (1.3514 - 1.2895) 619 pips
January 2020 (1.3230 - 1.2954) 276 pips
July 2020 (1.2358 - 1.3169) 811 pips
August 2020* (1.3267 - 1.2980) 287 pips
* There is much similarity between October/November 2019 and July/August 2020.
* Each month that has over 580 pips or more is usually followed up with another month with ranges lesser than 300 pips... (217pips - 295 pips).
Conclusion, this August new expected range is now within 217 - 280 pips which means price will continue hovering between 1.31 - 1.29 level.
Then after August small Range, September will get more volatile range of around 580 - 650 pips with very strong tendency to attack 1.33/1.34 levels.
In this light, I do not see price dropping below 1.2800 before aggressive push towards 1.33/1.34 levels in September. Let's prepare ahead.
I just edited this post I made on my channel last weekend, I posted it but later deleted it.
Price will need a fall to 1.2750/1.2850 area before a meaningful attack of 1.35/1.36 in weeks ahead.
So my buying here is very short termed.
Data + Stat + Risk/Emotions Management
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