Part 1: Previous Session Review

The 25 October session was deliberately quiet from our side. No trades were executed, and capital preservation mode remained active. That is not inactivity for its own sake; it reflects a market where the available reward did not justify forcing exposure.

When the calendar is light and price action lacks clean continuation, the priority is to avoid paying spread, slippage, and emotional cost for low-quality setups. Yesterday’s best decision was to stay flat, protect the book, and wait for a cleaner imbalance or a more defined liquidity event.

Part 2: Today’s Outlook & Watchlist

There are no high-impact red news events scheduled today, so the session is likely to be driven more by positioning, technical levels, and short-term liquidity than by a major macro catalyst. That usually calls for patience rather than aggression.

EUR/USD is worth monitoring for range behaviour and false breaks around prior session highs and lows. Without a scheduled data shock, sustained momentum may need confirmation through volume and acceptance beyond key levels.

The S&P 500 is also on watch. If equity futures hold above intraday value, buyers may continue to defend dips, but a failure to hold early strength could invite a mean-reversion session. In this type of environment, smaller size, cleaner invalidation, and selective execution remain the sensible approach.