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Trading > Netto's Numbers
Handicapping the Forex Market for Next Week
John Netto | Sat, 08/29/2009 - 3:20pm |
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Low volatility seems to be the prevalent theme when breaking down the prospective action for the upcoming week. The 15 day average true range in the EURUSD has dipped to 137 ticks, a far cry from the 220 pip range we saw in the middle of June. As a result, I'm not sure a resolution to this is imminent, however keeping tabs on things and being nimble with positions is what's in order. As a trader who does participate modestly in markets that exhibit less volatility, I stress to myself even more the importance of patience.
With the USDJPY, a close eye on 9342 is in order as we are hanging around the .618 perched right at the 94 handle in this market. If things do get soft, a short and quick move down to 92 seems pretty likely and that may be the best opportunity of the following week. To leanr more about which FX crosses I'm focused on, visit www.osoktrading.com.
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