Just when many thought the worst is over, seeing the euro climb out of the gutter along with the equity markets, traders had anticipated that the next few days would either be consolidative or even open up to more risk appetite. Not so, said the crowd. Once again the euro retreated, back to Fridays closing level of 1.2750. Overall, the market was mixed on the day. As I mentioned in yesterdays report, it is still far too early to understand the gravity of the situation going on in Europe and the markets havent been very forgiving. We continue to be ultra cautious and not looking for any mid-long term trades. As the markets were characterized over the weekend to have wolf-pack like behavior, traders must trade with momentum, with absolutely no attempts to call tops and bottoms. Expect volatility to continue. If youd like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the members area.
If youd like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the members area. Please visit us at www.spoteuro.com