Happy Labor Day! For most people it means a long weekend, with Monday off. This might be not a bad idea for Forex traders as well. Why? Traditionally, not much is happening on this day during US trading hours, and the rest of the dais subdued as well. But you never know….
With the latest volatility in GBP and JPY, both Asian and European sessions might provide just enough movement to make it worthwhile. You never know for sure before.
With that in mind I’m placing couple of orders in, even though my expectations are rather low for large move. First one is EUR-CHF.

I want to buy it at 1.6181 and the target zone is indicated by blue oval at 1.6240. In other words, about 60 pips run. With my next order I’m looking back to the successes from earlier last week. That’s right, GBP-NZD revisited.

Here I’m looking for a breakout above 2.6120 and my target is 2.6250. As mentioned earlier, I really don’t expect too much happening untill Tuesday, but you never know. Speaking of GBP, I did some analysis on weekly charts of GBP-CHF. I’ll post it tomorrow, so if you like trading the Pound come back and take a look.

Mike K.