The ranges are becoming well defined and anyone trying to trade a break is getting hammered. EUR/USD took out the 1.4100 barrier and the stops above 1.4230. AUD/USD was unusually whippy, down 100, up 200, down 60. All we can say is typical August markets. The big boys look to have cleaned up last night and the small guys may well take their ball and go home for the rest of the month if they’re going to keep getting beatings like this.
Tip of the day- it’s going to be a very quiet Asian session but good luck nonetheless.
