www.TheLFB-Forex.com A Forex Trader Portal
Market Wire Update:
Forex pairs have hit the outer ranges of trade from the previous session, albeit not too far from the opening prices, and are now waiting for global markets to back the long-dollar moves. We have seen two sessions of absolutely nothing in regard to momentum and ability to move.
Global equity markets are just about holding in the green, and commodity prices are holding long; both short-dollar set-ups. Something has to give, and it is unlikely to be that the dollar leads the moves; look for some Usd selling to get aligned with long stocks and long oil. It will be surprising if the dollar was able to pull equity and commodity prices lower; what comes first, the chicken or the egg? The dollar does not look strong enough to break long and hold right now.