Sunday, August 2, 2009

New Week

We saw the USD weaken across several currency pairs as the market closed for the weekend. Right now as I read the price charts, there seem to be indecision from both the buyers and sellers.

I will watch from the sides for the time being until the buy or sell signals become more prominent, but it seems that there is an unknown force beckoning to go into a trade. I must stay discipline and keep within my rules for going into a trade and right now there are no signs for me to trade.

I'm looking at the hourly and 4 hourly charts of the GBP/USD and EUR/USD pairs and I think there might be a trade later tonight when the volume gets higher.

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