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Market Wire Update: Get ready For The Sideways Channel, On Low Volume

Published 12/31/2000, 07:00 PM
Updated 06/24/2009, 06:09 PM

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There is nothing at all clear-cut at the moment, and as such we again have to wait for Asian market momentum to gauge where global markets are going to take equities, commodities, and by default, the Usd.

Most pairs are at major price points, and as such we are looking for a read on momentum after the FOMC rate decision and statement on Wednesday. The markets are in a sideways channel, and as such we have to be prepared to buy the tests of support, and sell the tests of resistance, all of which will probably be done on ever decreasing volume and speculative interest as the summer trading months evolve.

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