Talking Points:
• Though it is mainly the US markets offline for Thanksgiving, global risk trends typically moderate
• From the majors, some of the seemingly most actionable pairs are most likely to consolidate
• EURUSD and GBPUSD are better 'swing' candidates while USDJPY and AUDUSD favor ranges
Use the consecutive bar indicator to measure the historical significance and over-extended level of the markets.
Though Thanksgiving is a US holiday, it historically dampens activity for global risk trends. Knowing the effects of this seasonal event on the markets and majors can shape our expectations and opportunities. For example, knowing that the Friday after Thanksgiving usually finds a volatility boost for EURUSD and GBPUSD can filter options for swing traders, while range traders normally see better circumstances from AUDUSD and USDJPY. In today's Forex Strategy Video, we discuss Thanksgiving trading conditions and the strategies that can be employed for the next 48 hours.
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