US Banks are closed today for Martin Luther King, Jr. Day, and when US Banks are closed the trading volume is generally very, very thin as big money around the world takes the day off. No signal today (but we do offer a daily outlook below) - enjoy your day off!
From wikipedia: King was the chief spokesman for nonviolent activism in the civil rights movement, which successfully protested racial discrimination in federal and state law. The campaign for a federal holiday in King's honor began soon after his assassination in 1968.Ronald Reagan signed the holiday into law in 1983, and it was first observed on January 20, 1986. At first, some states resisted observing the holiday as such, giving it alternative names or combining it with other holidays. It was officially observed in all 50 states for the first time in 2000.
Daily Outlook: For those who are still looking to trade there are actually some good setups out there based around the key pivot of 1.3300. 1.3300 is the key short-term pivot - above this level and the recent movements can be seen as consolidation and we will be bullish. On a sustained break below 1.3300 this could open up a very bearish retracement to the 1.3180 levels. Fundamentally we are looking for dollar strength after dollar weakness last week, but 1.33 is the key technical situation we are watching.