S/P futures, the global market read on daily risk tolerance, found support at a major swing point overnight, and in finding buyers at 1050 allowed the dollar index to find sellers at 88.80. The automated way in which global markets stay connected throughout any given 24 hour period allows forex momentum to follow the buying or selling of risk, (the buying or selling of stocks).
The inverse Equity/Usd moves are connected each day, the only question is; to what degree, and right now it is as close to 100% correlation as traders will ever see. S/P trade will need to break 1075 and then 1105 to allow forex pairs to break the stranglehold that the Usd has them in.
Conversely, for the Usd to be able to push the dollar index through a resistance point that has held steady in 2004, 2005, 2008, and 2009, the S/P market will need to be breaking lower to test 1035 and 1015.
|Without these price-points being tested, forex traders will be looking at intra-day trading that is contained within the previous session high or low. Usd/Jpy is bouncing off 91.40 support at the 100-day SMA, Usd/Cad has the 200-day SMA at 1.0460, but outside of those two, most forex pairs are now free and clear of Daily chart price points of note.
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New! As from Jun 01 10 the signals posted each day will be inclusive of Trade Plan detail that the trade team see as having the best potential to move each day. No more separate reporting, all Signals issued from Jun 01 10 will now include the Trade Plan numbers that are being utilized and recorded each day.
The Signal output to clients has been registered with MyFXBook.com so that clients can track and monitor the results in real time. Access to the results panel will be in place this week.
The daily flow of Signals reviews six major pairs, plus Eur/Jpy and Gbp/Jpy. They are generated each day in response to specific global market set-ups that follow the ebbs and flows of each 24 hour global trading period. Signals come with full-service guidelines and email updates.
Trade Signals will now include the daily Trade Plans that look to have the best potential to follow through on any given day, and highlight price action and momentum as it unfolds. No more time spent wondering what Trade Plans to place; TheLFB Signal service now analyzes eight Trade Plans and post out Signals on the most appealing.
Trade Signals and Trade Plans are professionally formatted for member and trade desk use, they are designed for all skill set levels to provide a structure to start the global market trading day.
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