Note: The S/R levels (i.e. likely bank trader order levels) as depicted in their respective timeframes in this and prior articles have not changed, and will probably NEVER change regardless what happens in financial markets. What follows is my own world view, developed from an institutional trading career dating back to 1995.
The “busy” holiday period we called earlier this week turned out to be snoozers as we enter into the Black Friday weekend.
In fact, much of the global financial markets have been subdued. There had been spurts of activity, for sure, but in FX, at least, price action had been confined within well-established ranges.
No doubt stock markets had been making advances, and the dollar is behaving a little firmer. But the drop in China activity is causing worry.
The following are S/R levels for common pairs as we head into the weekend.