Moments of opportunity for 2005

摘要

While most people were watching the election returns, forex traders were scanning the currency pairs looking for trades. Did the market anticipate the results? Did technical patterns offering winning trades emerge? The EUR/USD five-minute election night chart mirrored the lack of political momentum and the zigs and zags of the newscasts in response to the uncertainty of the early results. However, the EUR/USD stayed essentially range-bound between 1.2650 and 1.2735 at its widest point. Trading during this period would have required a degree of precision not capable for most traders. At about 11:25 a.m. (EST) on Nov. 3, John Kerry conceded, but the EUR/USD has already established the range. In contrast to following minute-by-minute moves in the currency markets, the bigger picture provides a stronger clue to preparing for your next trade.