Major pairs going sideway/ranging from Aug?

Trading Discussion Currencies
1

Hiya,

I’m seeing the market for major pairs going the sideway from 1st of Aug for me. GBP/USD is an example and others are similar, there is no way to use a long term trend following in major pairs, just loosing in swaps otherwise. Is this happening for you too or it’s just for me? :thinking:

Tnx :blush:

GU
GU1918×973 330 KB

UC
UC1918×973 274 KB

AU
AU1918×973 258 KB

UJ
UJ1918×973 330 KB

2

Well it depends on your target. Are you looking to make a thousand pips?
To me they seem to be moving quite a lot.

3

I agree. Long-term trends are very weak / non-existent recently.

Most of the weekly bars just completed last night overlap with at least the prior 4 consecutive weekly bars.

Where 5 recent consecutive bars overlap like this I give that feature on that chart a score of 5. So, e.g. AUD/NZD gets 2, EUR/USD gets 7, USD/CHF gets 13. The average weekly overlap for the 28 important currency pairs after this week is 6. This is a market going nowhere.

1 Like
4

Thanks. I uploaded some figs as examples. My long term trades just didn’t move, price not moving up nor down.

5

Average weekly bar overlap for the 28 important forex pairs up to last night was 6. The only pairs moving quickly were EUR- and GBP-based pairs, which are bullish on account of news of a Brexit deal that just might be finalised soon.

But these are two high-risk currencies right now - a Brexit deal is not guaranteed: the eventual outcome could be bullish, bearish or might even by now be priced in by recent price rises - amidst the euphoria of the two parties finding a deal it has to be remembers that Brexit is bad for both the UK and the EU economies, at least in the foreseeable future.

Outside the EUR- and GBP-based pairs, the weekly bar overlap is almost as bad as it could be - 8 weekly bars. The forex market’s adrift in dead water.

6

Indeed, I get a break from market for a month and was playing some cute RPG online games until market behave like reasonably :blush: In my expectation, market will go worse each year, and the techniques that was made in the literature will not reply to the following years. Perhaps we should study more widely to find/create new trading strategies.

Best of luck