EUR/USD stepped up a notch yesterday, increasing its range from Monday’s 36 pips to a mind numbing 45 pips. Ranges of this size are untradeable and PA didn’t pay any heed to our only order of the day, a Long – which expired.
As I write this, six of the eight completed H1 candles today, have spent time either side of DP, continuing the tight, consolidating range. Pivots and my bias remain Bullish but the indecisive nature of current PA has given us no indication of the next direction. There has been no retest of the former Resistance Trendline, nor DCZ 1.3815. that won’t be enough to prevent me trading Long, but I’d prefer it happened, before I do.
The Day Ahead
Staying focused in a dead market can be trying. Suggest setting our traps at Hotspots and finding something interesting to do until PA decides to pay us a visit!
High Impact News
Wonderful, Wishful Wednesday everyone.