Look for an Algo afternoon

In the forex market we don’t get the dog days of summer, we get the algoritim days of summer. Especially after a day like today, most treaders will head to the sidelines . That doeasn’t mean markets will quiet down. In fact, it often means quite the opposite. Machines are bloodless and will push markets as far as they have to to find a pool of liquidity to liquidate a position. Case in point, EUR/USD trades now at 1.3990 after another test of the lows. Bids are coming in between 1.3970 and 80, traders report.

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