This summer the Forex markets were very slow, but we’re beginning to see signs of activity returning. Today I have a chart showing our success Day Trading the EURUSD. We hit for 28 pips today bringing our week to +70 pips on EURUSD day trading!
As expected during the summer we saw a slowdown in day trading forex. In particular the European market hours were slow. That has started to see some expansion in trading ranges but the US trading sessions have gone even one step further.
This is always a good sign for day traders and with US elections and a load of economic news to come globally we’d expect this pattern to hold up through the all and into the winer.
EURUSD day trading has an advantage over other currency pairs since the pip spread tends to be the narrowest. If you’re going for 50 or 100 pips or more swing trading this doesn’t matter much. But when you day trade forex and your targets are smaller you will want to pay the smallest spread possible. EUR USD day trading provides that benefit. Very common to see a pip or even less in the most liquid times. Certainly no more than 2 pips.