Stay On The Sidelines For Now
FX (Forex)
FX appears to be trying
to break the recent trading range. The Dollar is once again flirting
with the 200 day EMA (90.88) and the moves back and forth over that area are
simply whipping positions back and forth. However, it is starting to feel as
though price action is on the verge of perking up again. I cannot stress enough
that you not try to play the break-out, rather, wait for the break-out then
determine your entry on the counter-trend move.
Sometimes the best thing to do is to be on the
sidelines making notes and gauging what your next move will be. This is one of
those periods.
As always, feel free to send me your comments and
questions.
Dave