Trade ideas thread - European session 25 November 2021
Daily thread to exchange ideas and to share your thoughtsAnother reminder that it will be Thanksgiving in the US so holiday-thin trading conditions are going to be part of the consideration in the next two days.
I've never been a fan of holiday trading but just bear in mind that we could get some exacerbated moves considering the lighter conditions.
In that lieu, also keep in mind that the dollar continues to sit in a good spot from a technical perspective as EUR/USD is testing 1.1200 and USD/JPY looking to hold a break above the 115.00 level in trading today.
Elsewhere, oil is still looking tepid as traders seem to be unsure of how to proceed after the SPR release news while awaiting OPEC+'s reaction next week. The trepidation looks set to continue today with a wide range to play with around $74.50 (100-day moving average) and the $80 level at the moment.
Barring any major headline surprises, we may be in store for a quieter final two days of the week before the weekend comes along.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.