Yes, looks like a vague directionless market when considering a short timeframe. I just did a quick'n'small short myself, but I guess any direction within the range works ok. Tomorrow is anticipated - and perhaps we'll see some more action towards the end of the GLOBEX session - or maybe the asian session will do some pre-numbers trading. eidt: some more reporting [16:12 EUR/USD: Interest Ebbs As Rate Moves Toward Mid-Range] Boston, September 13: German and US buying helped lift EUR/USD back into the 1.2250s after a consultant"s report on China EUR diversification helped stem the morning dip. About EUR 15 bln in government paper is being issued this week, so Asian buying will be closely eyed to see if the diversification rumors pan out. Hourly downtrend resistance comes in at 1.2257 at present, drawn off Friday"s 1.2310 highs. Short-term traders can fade the bounce with a tight stop, looking to scalp out 25-30 pips.
Interesting defense on 1.2255 on the december contract. Some expected a little larger budget deficit, but it came in around average consensus. Might see some USDJPY cross pressure too. Short biased EURUSD today makes for a more interesting tomorrow. Seems like the defenders of 1.2255 are down but not out yet.
That was me buying the 1.2255's in the Dec. I've had a chopped up day today. Not one of my better performances. Overall, market seems to be going in my direction. Best, Neal.
How about one of those killer calls, you know, the one about one of the banks buying up something... Michael B.
Well, I had some ok shorts today, but I'm very careful with regards to tomorrow's numbers. On the other side - EuroZone numbers have not been able to move the ⬠any as of late ... Anyone else been thinking of atomic clock (Stratum 2) coordinated trading applications between traders ? Now, that could make some impact ...