The EUR was much more contained in its movement overnight. After an exceptionally large drop Thursday, it is not surprising to see it attempt to stabilize today near yesterday’s low…at least for now.
The setup was very similar to Thursday, but the move down ended at yesterday’s low and temporarily reversed.
On a side note, my platform has been showing some corrupted data. The gap down in yesterday’s chart turned out to be erroneous caused by a data corruption issue. It is not unusual to see a gap in the forex market between Friday’s close and the new week’s opening, but it is very rare to see gaps during the week. I’ve had a couple of issues in the past 2 weeks with data, so I will download a new charting platform this weekend and continue to compare it to other MT 4 platforms.
Technology is wonderful but far from perfect. Always have your broker’s trading desk’s number on hand, just in case you encounter a power outage or become aware that your charting data may be off. I know from experience, not being able to see your charts while in a trade, due to a computer malfunction or power outage can be quite stressful. It’s nice to be able to call the trading desk to ensure your trade is moving in the desired direction or be able shut it down.
It’s been a great trading week and we look forward to next week.
Enjoy your weekend!
Back Tuesday.
