Happy Monday, all! Everyone enjoyed their weekend, I hope. 🙂
Today has been an odd day in the market. Not much of a fantastic move overall. There was some action from EUR/USD, EUR/JPY, USD/CHF etc but nothing major. GBP/AUD moved approximately 300 pips which is great, definitely worth an honorable mention. I tend not to trade that pair due to the large spreads and the pip value is roughly $0.70-$0.80, but today’s move was not a bad choice of trade, I must admit.
My pick for Chart of the Day is EUR/GBP. The pair moved 150 pips or so over the course of 9 hours. EUR/GBP usually has a spread of 5-6 pips, in comparison to 16-18 pips for GBP/AUD, and the pip value varies from $1.50- $2.00. As you can tell, it’s a good choice for trading when a proper trend is in place. Take a look at the chart below:
Tonight/tomorrow, I will be looking for EUR/USD and EUR/JPY to start moving back to the upside and USD/CHF to the downside. Happy Hunting, my friends! 😀