The start of the third (3) quarter trading for a Monday remained at an initial stand-still with no solid price action seen except for short-session rally with the EURGBP cross rate. The string of reports this week from both sides of the continent would create a market squeeze with the upcoming "Fourth of July" celebration this Thursday.
Although the market's ability to provide price action would provide a volatile thin market price swings due to the scheduled market reports, particularly the Bank of England & ECB rate decision on the 4th of July holiday, and US unemployment & Non-Farm payroll figures thereafter. Thus-keeping market checks on rapid price swings during a thinly traded market where major players would take advantage of the market conditons from retail investors.
We, remain firm from our recent market view analysis as of June 27-28 with the same price parameters and market strategy in-place for the remainder of the week. With some minor price adjustments by mid-week before taking off for the holiday schedule. Although, monitoring price action would be important even after thursday's report would certainly put some milder pressure on the US session. But then again, watch for early trading reactions from the Asian traders and market price action from the start of the European sessions by Wednesday.
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