25 Dec: Today Strategy

[topchess]

Hello,

Resistance is at 21 Dec, 22 Dec highs 1.3211/12, Support formed by 1.3108.

Long strategy: Above 1.3211/12, with targets 1.3244,1.3252,1.3290 (not expected but on increased volatility might happen)

Short strategy: A successful break of 1.3108 and 1.3100 congestion, aim for shorts with targets 1.3082 and 1.3052 lower supports are 1.3030 and 1.3000 figure/psychological.

Studies are bearish on both hourly and daily.

Good luck, happy holidays.

[topchess]

Too much volatility, my broker not open for trading too. (Oanda)

1.3108 support was tested twice and hold very well a rally to 1.3164, now prices are setting back in range. I still think its very risky to enter until It breaks 1.3100/1.3215

[forexcranium]

why would you want to trade today anyway! Volume is too think.
For example, New Home Sales is not that strong of an indicator and needs a lot of deviation in order to move the market. Existing home sales and consumer confidence have a 50/50 chance of conflicting. And you don't want to be trying your luck with conflicting reports during such thin volume

[topchess]

Volume is thin, and market is wild.
Well, I hope my broker lower the spread it's 10

[forexcranium]

I'm going to take a wild guess...Oanda kept their spreads high?

[sabaifx]

Oanda was high yesterday, but today has come down to near normal. You are right about higher risk in thin trading.

[forexcranium]

Thats why I'm keeping my ass out of forex until after new years