To all our American readers, let’s kick things off with a Happy Thanksgiving! I’m guessing volume is probably going to be down a little bit throughout the session today, with the major financials markets shut down across the US, and the early finish tomorrow on the stocks exchanges, but that doesn’t necessarily mean we won’t get any volatility. Sometimes as a result of the low volume we get choppy action, which might make today’s trading a little difficult, but if we set up with some relatively wide stops, and go after some respectively wide targets, then we’ve got nothing to worry about.
So, with this in mind, and as we move forward, let’s take a look at what happened overnight, and where we are heading this session.
Before we get started, take a quick look at the chart below to get an idea of what’s on.
As the chart shows, the levels in focus for this morning’s early European session are in term support to the downside at 738 flat, and in term resistance to the upside at 754. This is a pretty tight range, so we