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Yen in a slow grind to the upside

al_dcdemo 更新21 7月  在 #Trader's blog #Support #Resistance #USD/JPY #H1 Chart #Summer Doldrums
Judging by the slow action in the first two days of the trading week, we're indeed in summer doldrums mode. Daily ranges of the major pairs appear to be between 30 and 70 pips and 50 pip move in this environment seems like a lot.
USD/JPY has been grinding up and is currently trading near 124.40, which is an important resistance. There are quite a few levels stacked all the way up to the big 125 (Daily Resistance 1, 50's, Daily Resistance 2, Weekly Resistance 1, Daily Resistance 3, Monthly Resist…
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CommunitySupport 21 7月

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al_dcdemo 21 7月

Thanks :) I must add that when using these levels, one shall always look at price action first to determine whether the level has any impact or not.

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Choppy ranging continues

al_dcdemo 更新26 6月  在 #Trader's blog #Euro #EUR/USD #Uncertainty #H1 Chart #Thin Trading #Summer Doldrums #Greek Saga #Gap Open
Despite the fact that many traders are standing aside in these tough markets mostly due to heightened uncertainty and never knowing where and when the next headline will send the price, yesterday's trade reminded of thin summer trading conditions. With July knocking on the door, "summer doldrums" factor might definitely be a part of it.
Greek saga continues on Saturday and if we'll get any deal on the weekend (unlikely), there could be a huge gap open on Monday. But most likely we will have to w…
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