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Weekly Forex Highlight

ByTheLFB
Published 11/02/2008, 07:00 PM
Updated 05/14/2017, 06:45 AM

The trade pattern of last week revealed some strong signals in regard to market sentiment and momentum, and also showed that the dollar has two distinct sides to it. On one side are the euro, swissy and pound that are all looking a little tired after giving back recent dollar gains. On the other side are the aussie and cad that are ready it seems to take the next leg higher against the Usd. A very strange week has gone, and with it we hope that the equity market volatility has also departed. If equities can get some intra-day volume going, and find buyers during the course of the session rather than just at the beginning and end (in the pre and after market), it seems that the dollar may get pressurized. If on the other hand oil and equities fall the dollar will quickly gain the upper hand. Two majors are set to go long against the dollar, the three Europeans are ready to drop, and the Jpy looks just about ready to explode lower against them all.

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