Choppy, tricky market-conditions continue

If I could come up with a few more adjectives to describe the current market conditions then I would but safe to say that most traders are finding conditions very tough. Trends seem to continue in short sharp bursts like in the GBP or CAD and then revert to sideways consolidation. The other majors simply chop sideways with plenty of false dawns.

I’ve been tracking a large number of traders constantly for the last few weeks for the Forextell trade-idea portal and most of them are having it equally tough.

One of the banks put out a sell recommendation overnight in USD/JPY IF it closes below 102.10. Current price is 102.10. Typical.

Good luck today and TGIF.

  1. Cant agree more with you Sean. My trade plan for tonight is if NZD news tonight is positive which i think most likely, I will short AUDNZD or long NZDCAD and make a few pips. If it is not then go long on GBPBZD and target 50 pips. Or I might just sit and watch and do nothing. 🙂

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