USD and Equity Trends Broken, Pound and Oil Staged for Breakout

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USD and Equity Trends Broken, Pound and Oil Staged for Breakout

Equity Trends – Both the Dollar and US equities saw their rallies cut down this past session, with the severity of the move dictated by their underlying volatility. Yet, whether we reference the sharp drop in the S&P 500 or the more gradual correction for the Greenback after a six-day climb; the potential for trend is equally restrained by underlying market conditions. In other words, these are not particularly good conditions to develop robust and persistent trends whether on the basis of risk trends, relative monetary policy or other more endemic conditions. However, there are plenty of opportunities that fit the ‘tactical’ mode. In particular, the Pound pairs are well-staged for short-term technical breaks (with the potential of follow through) with distinct levels and the impending BoE decision. It is the Quarterly Inflation report that will the real fundamental leverage. Among the Sterling crosses, there are particularly remarkable charts for GBPUSD, EURGBP andGBPAUD. Oil prices are another outlet for the short-term view with a 3-dollar range keeping the market from its trend. We look over the market conditions and better aligned opportunities in today’s Trading Video. subscribe

By: This Forex Strategy is published by DailyForex.com, Written By John Kicklighter

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