Recent price action for the EUR/USD makes it a scalping target in its own right and the upcoming ECB decision will only add to its attractiveness. The looming event risk typically leads to a period of consolidation as traders error to the side of caution as the policy meeting has the potential to initiate a new trend. Solid technical support and the current range has the pair offering profit potential in its current environment for those with a bit more risk tolerance, as we have seen sharp intra-day moves. 

The EUR/JPY has been under pressure as risk appetite has faded, sparking a flight to safety and broader yen support. The pair has fallen to major support levels which may slow its decline and offer a period of consolidation. The upcoming Thanksgiving Day holiday could lead to a week of quiet equity markets which may enhance the pair’s attractiveness as a scalping target.

The EUR/CHF has traded in a tight 350 pip range since the Swiss National Bank intervened in July. The central bank has remained committed to preventing Swiss Franc appreciation against the Euro which has compressed price action. Therefore, at times when we are seeing broader volatility the pair’s low risk environment increases its attractiveness.

Tic Long Term Purchases – USD – 13:00 GMT •Difference in value between foreign long-term securities purchased by US citizens and US long-term securities purchased by foreigners during the reported period. •Basically measures the attractiveness of U.S. Dollar vs. other currencies. •Important measure as it gauges international investment in US (and therefore in US currency). Industrial Production – [...] Recent studies have shown that the Swedish and Norwegian Kroner are 2 of the currencies which have gained the most ground on the US Dollar since the end of June. Talks at the G20 Summit have speculated an anticipated rate hike in those countries, which could further increase their recovery and attractiveness for investors looking [...]