This past week markets have been very, very quiet....and thin. So treacherous as well to trade, as I will illustrate later.
We ended the week down less than half a percent, basically due to sideways action and lack of continuation trends.
We expect market to resume 'normal' behavior late august/early september when everyone goes back to work.
The Games are over now and summer holidays are over in a few weeks.
Summer doldrums markets....how treacherous they can be to trade. Look at screenshot below:
Even sites like forexlive.com could not come up with a valid explanation:
Until they decided this had to be the reason:
So, in short (no pun intended), this is a prime example of summer trading....be careful out there.
Have a great weekend,