very low volume.......last week of august everyone is on vacation. Don't worry, when head traders get back to the desks and reality sets in, there will be a lot of liquidation. These numbers are clear signs that any form of recovery is not happening, globally, we are slipping deeper into a recession and now we run the risk of depression.
all moves right now are just slowwww motion......high yielding currencies are telling the better picture right now.
its the last 2 weeks of summer.....no head traders are on any trading desks anywhere. I dont expect any big moves this week just ranging till the real traders come back. Very low volume the last two weeks of august......I'm not even bothering trading this next week, patterns are all screwed up, TLs, pivots ignored etc......
EU has been having trouble getting past 1.2700, although admittedly friday afternoons are slow and low volume, and made worse by the fact that this is August and that affects euro support to a greater extent. There is also strong resistance at 1.2730 area therefore may very well not be able to get past that.
On the downside, once it gets past eh 1.2650 area, there is moderate support around 1.2550 then it drops to 1.2250, which is a likely target for next week.
I see a lot of posts about late august volume and early September volume on the EURUSD.
I wrote a little something about it. Also gathered charts from September of 07, 08, 09 and currently now. Don't worry the blog isn't commercial, no ads, no paypal buttons, just education.
The sept 09 and 07 just dont look like the same patterns as 08 and now.
Gatorinla
Just wanted to take a second ad say thanks for what you share with this thread. I lurk here mostly off and on but one thing has remained constant are your posts.
Thanks
Jim
1.2757 would be time to re think short positions. A break of 1.2736 could cause a false spike up to that level. I am still likeing the downside down to
at least 1.2643 below 1.2715. I am well up for the day and playing with the brokers money (holding a small position now) off the bounce from 1.2625 so we will see........
I see a lot of posts about late august volume and early September volume on the EURUSD.
I wrote a little something about it. Also gathered charts from September of 07, 08, 09 and currently now. Don't worry the blog isn't commercial, no ads, no paypal buttons, just education.
