Next week we'll be entering the second week of holidays, so traders must be still caution about price action as it can been seen last week low liquidity level have been distorted the recent price action. Last week wasn't quiet and abnormal movements have been seen in the market and it seems that the EUR/USD taper sell-of was consumed and the dollar got weakened across the board except few pairs like JPY and AUD.

Although we're entering in the last 2 days of the year we'll be having some light economic events coming from US economy:
  • Pending Home Sales: Market expectation is very high and we should expect an increase from -0.6% last reading to anew high of 1.1%. We just recently saw that purchases of new US homes betting expectation for November and this should be very supportive for a good figure.
  • Dallas Fed Manufacturing Business Index Last reading was very weak at 1.9 dropping very fast from September high of 12.80.
  • Chicago Purchasing Managers' Index: Market consensus is for a drop to 61% from 63% last reading.

Also be aware that we're not going to have normal trading hours during New Year Eve. During this time of the year traders are likely to perform poorly as market conditions aren't good, and during this time traders must exercise discipline and cease trading.

Dukascopy New Year Eve trading hours:

  • For FX Market:
Tuesday 31 December - Trading stops at 22:00 GMT.
Wednesday 1 January - Trading resumes at 22:00 GMT.

  • For Gold and Silver:
Tuesday 31 December - Trading stops at 22:00 GMT.
Wednesday 1 January - Trading resumes at 23:00 GMT.

We know that on 31 December the contest ends but in case you're trading your live account you must be aware that: Weekend leverage rule will be applied on Tuesday 31 December.

Best Regards,
Daytrader21
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