Good Day,

Hope you are all well and enjoying any trading that you are able to get your teeth into.

As I tweeted yesterday, it is very, very quiet and the World Cup has just about killed volatility in the North American session from noon EDT onwards. The Asian sessions, which are thinner trading anyway will now give us moves that are just false in either direction, so we have to be careful. Europe, which is pretty much the base of Football is almost dead business wise, even though the first World Cup matches do not kick-off until 5PM and beyond local time. people seem to have taken annual vacations to coincide...there are Pub specials and BBQ parties all over. This is based on what my European connections are telling me about what is happening across Ireland, Spain, Holland and the UK. Now, I take a lot of this with a pinch of salt but I know this is annual vacation time in Europe and a lot of this can be accurate.

My point is that traders will be out, on reduced hours, pulling back on trading across the globe to watch Football.

<span style="text-decoration: underline;"><strong>OVERVIEW:</strong></span>

Crude Oil continues to bring higher and the geopolitical situations in Iraq and Ukraine are still there from before last weekend.

Overnight we had weaker data from both the UK and the Eurozone. Both the GBP and EUR dipped on the news and then popped back.

Equities are pretty flat today and "Turnaround Tuesday" do not forget is no-more!! We are just in very tight ranges in equities as we are in the Forex market.

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<span style="text-decoration: underline;"><strong>PRESSURE CHART OVERVIEWS:</strong></span>

As requested by Roger from the UK. Here are the currency pairs were Short, Medium and Long term charts are aligned on either buying or selling pressures.

<span style="text-decoration: underline;">LONG:</span>

GBP/USD
USD/CAD
GBP/JPY
NZD/JPY
GBP/CAD
GBP/AUD
GBP/CHF
USD/NOK

<span style="text-decoration: underline;">SHORT:</span>

AUD/NZD

Very interesting. With out doubt the cable looks like it has buyers to push it higher across the board. The only warning sign at the moment is that the EUR/GBP should be a short?

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<span style="text-decoration: underline;"><strong>TRADES:</strong></span>

I am live in 6 trades (Positive in 3 and negative in 3).

Possible set-ups are few and far between, the charts are not really giving me anything as the trading ranges are very tight in many pairs.

From yesterday, the NZD/USD short measured move off the 0.8700 double top is still valid. The USD/CAD did not play out..quelle surprise!!

Today,  if you are inclined and I am NOT. Should the EUR/USD break above 1.3585, do not forget is got smacked down in Asia last night at 1.3588 (A false breakout). However should it get a move above 1.3888 you may get a momentum move to 1.3620. If you are clutching at stews for trades this one is possible as the EUR/USD of all pairs should have liquidity. Personally, I WILL NOT be trying this. I hope that this shows you how bad things are that I am looking at this as a possible trade. I am only even thinking of this because a couple of ECB officials stated yesterday that no further easing is planned by the ECB as they lay out any groundwork for implementing QE a few months down the road.

I have amended my stop in EUR/CAD (RT111) short from 1.4750 to 1.4785.

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The only chance we have of movement in the markets this week will be tomorrow, and, it may not be as big as we think because of the World Cup, is the FOMC statement and Press Conference. Sad but true. The markets are what they are. I wrote yesterday, if I could take two weeks off from trading I would right now. Personally, I find it boring.

Scott