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Happy Tuesday to All!
The Markets worked with “thin” Volume yesterday, and when we see this type of climate…we tend to see rather “linear” moves in most Currency Units.
To be more specific…when a massive Volume and Flow Producer, such as the U.S., is largely out of the picture…we really do not have the obstacles of “Counter-Order Blocks” to significantly assist in changing intraday direction.
The Yen Crosses of Pound Yen and Euro Yen are prime examples here, so let’s have a look at the Daily views.
Apparently…the Swissy called them from the slopes yesterday and asked them to join the Party! ;-)
(Post-Time is 3:00 GMT)
(click once for the captures)
Euro Yen shows a bit more “Tendency” here to the downside…
The Hourly Views tell the whole story, with significant Depreciation all day yesterday.
We may see significant Reversals on an Intraday basis here, as U.S. Volume and Sentiment returns to the Stage…as well as the big historical Presidential Inauguration Day being upon us!
Depending on your particular view…this could be meaningful to you or simply another day in your “Life As A Trader”…
We will do an Intraday Update to check where we are…especially as we approach the Inauguration Ceremonies.
