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18 FEB 2013 | Free Daily Analysis | EURUSD : LONG, LONG WEEKEND

G’day Surfers, Oh bummer – it’s another Holiday Monday!!

Yesterday’s Report

The perfect imitation of a Bungee cord was how Friday traded. Our Support Trendlines provided the perfect boundaries for Price Action but of course, it being Friday, no trading for us.

Technical Analysis

In deference to President’s Day in the USA, we will not be trading today. In fact the reason we don’t trade on a US Bank Holiday is due to expected low liquidity in the market. This can be the cause of either no market at all – OR – highly volatile but unreliable price swings. Much safer to enjoy an extended weekend – the market will still be there tomorrow, when it will be much safer to trade.

The Day Ahead

Given that I can’t quite make out the material my desk is made of – I had best clear it!

High Impact News

All Day USD Bank Holiday
3:30pm EUR ECB President Draghi Speaks

Make the Most of Meandering Monday

Geoff Pyne  

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