Living in a range times
With the COT being in a range and VIX in a down channel we still need to see some action before we can start attacking levels above 1.35 and below 1.28 in EURUSD. COT chart is trying to point out that we are now at the decision time. Who is it going to be? Previous cross happened to be on July the 6th and was able to drive EURUSD from 1.28 level towards 1.43level. VIX chart is also saying that the fear of double dip recession is not an issue any more and is continuing in its downward channel currently being at 16.24 just above the strong support level 16. Tomorrow I am expecting to trade EURUSD and GBPUSD where I will be looking for a down side pressure and will try to squeeze some pips from SHORT positions. Have a great trading day tomorrow and do not forget GBP PPI release at 10:30 GMT+1.
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