That is one way to put it. After last couple of weeks, and the large moves then, it feels very slow now. Few pips this way, than the other. Finally some moves few hours ago, USD got stronger, but other crosses are still just spinning wheels. Let’s take the one I targeted earlier, for example, EUR-AUD. I had a buy order at 1.7675.

Trade was filled, if just, and then promptly ran against me. I gave it a little more room than prudent, but eventually got out at at 1.7584, for a loss of 91 pips. What we are seeing here is basically sideways action. I decided to get out. One can always enter on next breakout, that is why there is a buy order 1.7695. If there is a move above last high.
At the same time I’m eying NZD-CHF. It is very close to being reverse of EUR-AUD, but I tend to analyze currencies on their own merritts and not in terms of correlation or lack of one.

I’m looking for a buy at 0.7495. My target here is less ambitious, 0.7550.
Just across the wires- congress reached agreement on bailout. I’m done for the day, besides, I don’t trade fundamental announcements. Whatever happens over next few days, will surely be blamed on the implications of the Fed intervention plan. Interesting times ahead.

Mike K.