Happy New Week Surfers.
A 21 pip range completed an incredibly uneventful trading week for EUR/USD. An entire week of trading failed to move outside a 69 pip Hi/Lo. The Inaction stretching further, the “fortnight of fizz” that began on April 14th, when the market gapped Short. The range since, has been only 79 pips.
I know the markets have been this quiet previously but I’m struggling to remember a solid fortnight with as little action. Accordingly, the Pivots are still very compressed and lacking in formation. It therefore is still total guess work as to a breakout direction so we simply watch & wait and trust our Hotspots deliver the goods.
The Day Ahead
In the absence of a Crystal Ball, it’s completely as above – wait patiently. Apologies for lack of charts today – my screen capture tool has crashed. I will send later when back online. (No big changes from Thursday however).
High Impact News
||Pending Home Sales m/m
Magic Monday all.