25 Dec: Today Strategy
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.
Last edited by topchess; 12-24-2006 at
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
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
Volume is thin, and market is wild.
Well, I hope my broker lower the spread it's 10
I'm going to take a wild guess...Oanda kept their spreads high?
Oanda was high yesterday, but today has come down to near normal. You are right about higher risk in thin trading.
Thats why I'm keeping my ass out of forex until after new years
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