Don't forget today is the last day of the month and last day of the quarter for market participants to get square up their books, lock in profit, take losses, and to get ready for Q3. In terms of heavier price swings, most of the volatility seen so far today has been with the pound sterling but I think once Wall St. gets rolling at the bottom of the hour the price action will pick up again.
Crude oil and the S&P 500 continue to be the center of the universe right now and any upside gains will keep downside pressure on the USD and JPY. As I said in Sunday's update, I have an anti-dollar bias and prefer buying the higher-yielders against the dollar and yen on the dips, I think that's the smartest way to trade under current conditions.
Be disciplined with your risk and money management today...
EUR/USD key levels--
Upside: 1.4138 / 1.4178 / 1.4227 / 1.4254 / 1.4298
Downside: 1.4101 / 1.4082 / 1.4058 / 1.4030 / 1.4002
-David
Crude oil and the S&P 500 continue to be the center of the universe right now and any upside gains will keep downside pressure on the USD and JPY. As I said in Sunday's update, I have an anti-dollar bias and prefer buying the higher-yielders against the dollar and yen on the dips, I think that's the smartest way to trade under current conditions.
Be disciplined with your risk and money management today...
EUR/USD key levels--
Upside: 1.4138 / 1.4178 / 1.4227 / 1.4254 / 1.4298
Downside: 1.4101 / 1.4082 / 1.4058 / 1.4030 / 1.4002
-David
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