ForexSpirit

Lots more range trading for most of last week, with some slightly more significant dollar strength on Friday, breaking out of the range slightly to the down side.

I had one birthday trade complete successfully.  Two other positions were entered when congestion ranges were reached after the two main drops.  I was aiming for just 30 pips profit for each of these entries, but my luck has so far been out, so they remain open.

The Fed interest rate decision later this week should provide for some interesting times ahead.

I am trying not to catch the falling knife here, but it is hard as the FOMC meeting next week is lending the dollar strength and my one direction is to buy euro.  This can make it difficult to make any money in a downtrend.

The only two available options are to either not trade at all until the euro regains the upper hand, or try and catch small profits based on the market’s natural daily volatility.  I have obviously taken the second approach with not much to show for it (yet, hopefully!).