I hope you’re having a wonderful start to your trading week by being a disciplined trader.
During this week’s “Technical Tuesday” Analysis Session, we provide a brief overview of the inter-day price dynamics in the EUR/USD and USD/JPY currency pairs, and offer various trade scenarios with projected targets that could form within the next few sessions.
Financial assets appear to be restrained, and favoring safety ahead of key central bank minutes, the Jackson Hole Economic Symposium, and this weekend’s G7 summit in France. The Japanese Yen (JPY) is appreciating as global bond yields soften & slide lower over concerns of slow global growth spawned by the lack of progress with the US-China trade war. The EUR/USD is also trading near its weekly lows for the session, along with the USD/JPY. But, we are expecting both currency majors to remain contained & range-bound through the week, as the summer volatility remains thin through the month of August.
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Melvin Perry has been trading the Forex market since 2010. Like his brother, he attended the University of Illinois in Urbana-Champaign and graduated with a BS in Bioengineering in 2002. Although an active trader, he spends most of his time reading the Bible, studying the markets and providing content for this blog. He also does an average of two training webinars a week with the Slumdog Forex VIP community.