This is an exercise I used to do every morning when I worked in the bank dealing room. I’d take a very quick glance at the 30 minute chart for the major pairs and crosses and try to establish a bias for the session, not worrying too much about levels which we tend to get hung up on. It helped me to focus on what the market is doing, and not on what my opinions are. Here’s what I’ve gleaned from this morning’s quick glance:
- EUR/USD: Bearish but oversold
- USD/JPY: 50 pip range trading
- Cable: Bearish
- USD/CHF: Bearish but nearing support
- AUD/USD: Bullish but slowing
- EUR/CHF: Bearish
- EUR/JPY: Bearish
