It’s the top of summer, the last “unofficial” week of summer within the USA, that ends with nationa holiday Mon. many of us within the USA and therefore the Great Britain have taken the week off. historically, this is often one in all the slowest weeks for commerce of the year. Besides many headlines, together with one in all that is that a government has been fashioned in Italia, markets square measure extraordinarily quiet. Most of the USD pairs, with the exception of the GBPUSD, square measure barred during a tight commerce vary for the day, and maybe the remainder of the week!
Question: What does one do to stay yourself busy, to form yourself a far better merchandiser, to assist take a lot of pips out of the market throughout slow times?
Answer: REVIEW LONGER-TERM CHARTS to see A DIRECTIONAL BIAS
Here square measure a few:
EUR/USD (monthly), current level one.1076:
EUR/USD is presently during a downtrend that began in July of 2008. Over the course of the last year, value has been fitting lower lows and lower highs, making a descending wedge. If value breaks on top of the falling wedge, it will move to the descending trendline close to one.1800. If value continues lower, support comes in around one.0800, then a section of support between one.0500 and 1.0250.
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