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Market Wire Update: Usd Buyers Step Up To The Plate

Published 12/31/2000, 07:00 PM
Updated 09/21/2009, 02:51 AM
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TheLFB Newswww.TheLFB-Forex.com The Forex Trader Portal

Market Wire Update:

Usd Buyers Step Up To The Plate 

Momentum and Sentiment: 

The 4 hour global market charts are showing mixed trend read that looks to be moving to Usd buying. Order flows are weak, but momentum is building. The swing change to long-Usd may be here.

Dollar Buying Signals:   The weak order flows from the Japanese markets being closed until Thursday may allow for some break-out movers to hold, and in early trade it looks as though the Usd will be more easily bought than at any other time that we have seen recently.   The key moves to support dollar buying will be oil breaking under $70.50, gold holding under $1000, and S&P futures dropping under 1050. The trends are short dollars on most reads, but the momentum is looking to change that, it would seem.
  Trade Signals:   We are looking at a period of trade where correlations may get tested; oil and gold may not hold the same direction, global equity trade may not hold the dollar from getting stronger in the near-term, and the Japanese Yen may suffer from the three day bank holiday that runs until Thursday.  

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