Wow, I really don't even know what to say. This kind of volatility, especially in the equity markets, is something you see once every three lifetimes. I did a news spot for the Canadian Business News Network today describing the volatility seen in the commodity markets and commodity currencies.

EUR/USD has met our final 1.3320 target after weeks of hard analysis and smartly rallied 100 points into the close along with the equity markets. I believe we may have seen a turning point in the global financial markets. The question now is just how far can they run.

That question, however, will have to be answered next week. I love the volatility, but I have to say I am not sad to see this week come to a close. Sadly, there was trillions of dollars market capitalization erased this month, which has produced this outsized volatility. And volatility is what short-term traders like you and I wait for. So rest up this weekend because this outsized volatility is likely to continue.



Todd Gordon is a Technical Currency Strategist and Fund Trader with GAIN Capital Group.

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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.