The Euro Forex Futures is up over 150 ticks from yesterday’s Globex close (1.2754). Commodity traders who are currently long the market are trading within a significant level of volume resistance (blue rectangle), which depending on which side traders come out on may give us a directional clue at least over the short-term (see 60-minute chart below). You will also notice that above and below this area of volume resistance I don’t see much in the way of resistance or support for over 100 ticks in either direction. Commodity traders day trading futures, specifically the Euro Forex Futures must remember to remain vigilant and always prepared to execute in case things get ugly.
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