After the bounce will it try again?

After the bounce will it try again?

Morning all.
With a U.S holiday, Euro-group meetings and Mark Carney speaking later today at 18:45 I’m expecting things to be fairly nervous but quiet at the same time (unless there is something significant revealed in the EG meeting). Tomorrow there are ECOFIN meetings all day followed by the FOMC taking  centre stage on Wednesday at 19:00.

Still in the same frame of mind I’m watching the $ to see if it breaks further south to test the bottom of the consolidation mentioned in last week’s blog.  It tried last Thursday and Friday and found the expected support so the question now is after the bounce will it try again?

I’m not expecting that to happen today or possibly even tomorrow but it could be that the FOMC on Wednesday give the Greenback the nudge.

So I think a very quiet day for me today as I am in no hurry to do anything thus far.  The Trading Account will be updated later this morning.

Have a nice day all


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Categories: Guest Writers, Viewpoint

About Author

Clive Arneil

Clive Arneil worked for major brokers for over 20 years trading most instruments in the Foreign Exchange markets as well as Derivatives. Brokered deals on behalf of some of the worlds largest banks including Barclays, Citibank, UBS, Nat West and the Bank of England. Worked mainly in the UK but also in Switzerland, Germany and the U.S. Retired from the Money Market at the age of 40 and worked as a financial data feed specialist supplying market data to Banks, Brokers and Spread-Betting companies. Still trading and teaching people the skills required to master today’s volatile markets.