Quiet Trading But Prepare For Upcoming Momentum

Dear Traders,

The market was quiet- surprisingly quiet compared to other summer months in the past. However, we were able to profit even amidst this low volatile market and look back on a profitable performance this month. While the performance of the EUR/USD is still lagging behind, recording a small profit of currently 33 pips, traders of the GBP/USD can be happy about the exceptional level of profits. Here we already gained a nice profit of 301 pips in June.

There is nothing new to report, at least nothing that changes the technical outlook in the near-term. Both EUR/USD and GBP/USD traded within very tight ranges, ending yesterday’s trading day virtually unchanged. Consequently, none of our daily signal entries was triggered.

We may see some accelerated momentum today. While today’s economic data reports are only of secondary importance, there are at least two reports on the economic calendar which are worth mentioning. The Eurozone PMI reports are due for release at 7:30 and 8:00 UTC and could have a short-lived impact on the euro. From the U.S. we have the PMI reports scheduled for release at 13:45 UTC followed by New Home Sales (14:00 UTC).

We wish you good trades and a beautiful weekend.

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