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Market Wire Update:
4 Hour Market Trend and Momentum
Global markets and forex pairs are completely mixed as the markets wrap up the final session of the week with a final forex 30 minute explosion of trade. The 24 hour session would not be the same without a 30 minute dash that takes an elevator ride, after stair-stepping around for the last twenty hours.
The market may be pre-empting any momentum created by the G20 meeting in London this weekend. The currency pairs are completely mixed, and in reality have moved nowhere for three months. The equity markets are going into a 'fear of historical loss' period of trade where eyes are cast towards the fact that September is a bearish month overall.
Commodity trade is completely mixed as the long speculative excess in oil has made a move to the gold market. In all, it is as completely mixed a technical picture that these 4 hour charts could give.
"The U.S. Trade Desk's will look to be closing things up soon" TheLFB Trade Team said, "U.S. Bond trade will be wrapped up for the most part by 13:00 EDT, and as such most traders will not be looking for anything new in the run-up to the U.S. bank holiday Monday."
"We will however be active and looking for trades on Sunday" they added, "in response to the G20 meeting today and on Saturday. The team is here throughout the Canadian and U.S. breaks, and will be looking for trade opportunities from 17:00 EDT Sunday, until the European close around 10:00 EDT on Monday. The Monday Asian session will start at 17:00 EDT as normal."