It can be argued that the FX and capital markets had carved out relatively consistent ranges this past week. Though it may seem odd to label markets that were generating such incredible levels of volatility congestive; we found absolutely no direction beyond Monday’s gap. And, heading into the final trading day of the period; the [...]
Crude oil fell back as a weaker-than-expected reading on U.S. retail sales spurred profit taking in financial markets. Gold moved in the opposite direction, leading to a break of the week-long congestion in prices. Read More Crude Falls on Profit Taking, Gold Pushes out of Congestion
There were high hopes that the return of speculative liquidity this week (after the extended US holiday and the general return from summer vacation) would encourage a meaningful trend development. Yet, nothing has developed; and lethargy is setting back in. Read More A Lack of Fundamental Drive Resolves Oil to Congestion, Breaks Gold Trend
Read More Volatility Distracts Traders from Broad Congestion for Both EURUSD and the SdanP 500
The difficulty for range traders now is not in finding congestion patterns but in finding congestion patterns that have consistent and definable levels… Read More Three Months of Congestion Doesnt Guarantee a Successful USDCHF Range Trade
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