Algorithms are in control this afternoon; after all, humans are smarter than to play in month-end markets ahead of a holiday weekend….
As equity prices push back into the black, EUR/USD and EUR/JPY have rebounded as well. Dealers say volumes are very light, making the market vulnerable when any sort of reasonably sized deal hits the street. Keep positions small and stops wider than normal or you will just be making a contribution to the forex gods: that’s my best advise for the afternoon.
EUR/USD trades at 1.3255 and EUR/JPY at 130.82.
