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Monday, March 21, 2011

Trend for 21st of March 2011

As I expected there is no significant trend in Forex market today. Mondays are usually pretty boring as there are no big moves. You can do some range trading, but ranges as you can see are very small, so you cannot make nice cash when market is in such state. Well, maybe you can if you have some super duper day trading strategy, but most day traders keep on losing their money, not making it.

Gbp/jpy is not going anywhere, although there are some attempts to break through most recent high of 132.50. Market is obviously lacking momentum today and no trend can develop without a momentum. There is some fundamental data from US coming in a few minutes, but I do not expect it to move markets significantly. I hope a trend will be in place tomorrow and we will be able to trade under better conditions. I am not including any chart today as I do not see anything interesting in the charts now. See you tomorrow. 

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