Forex technical analysis: Off to a slow start to the week as NY traders enter

Discussion in 'Technical Analysis' started by ForexLive, Oct 12, 2015.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    EURUSD going no where, but will it move outside the comfort zone? It is a quasi US holiday (Columbus Day), I know but the market is off to a very slow start to the week. One thing I look at is the range vs. the average true range over the last 22 trading days. It gives me a sense of relative volatility and a clue that perhaps the day has the potential for a range extension. The chart below shows just that. The EURUSD has a 44 pip trading range. The 22 day average is 109 pips. That 44 pips represents 41% of what is normal and if the day were to be more normal that would imply a 65 pip extension of the extremes.

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