Pick of the Day: No Trade

Greetings! No “Pick of the Day” tonight. With the lack of news events we may see little volatility in the markets leaving us with low probability of any breakout trades.

It was a wild ride for markets today, with the Euro and GBP rallying high against the dollar. Both the Euro and Cable, looks overbought at the moment, but it is a pretty risky trade to go against the strong trends.

Also, the Yen and the Swissy have rallied strong against the Greenback, so is it time to return to the carry. We will have to wait and see if price dictates a reversal back to a strong risk appetite.

Again, no trade for today, but stay tuned for any possible trade ideas in the morning US session.