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Automation Decimation For The Usd

Excerpts from The Trader Advantage Program

Global risk markets came alive in Thursday trading as European cash and Asian futures trade reacted positively to Euro-zone and U.K. related macro-economic releases. The call to be long equity markets from TheLFB trade desk last week certainly played out as books get balanced in the last two trading weeks of June that lead into Earnings Season and to half-year reporting.

The long-risk momentum has taken the steam out of the bond, gilt, and Treasury markets, and in doing so has dropped the Usd safety play lower.

It was noted over the course of the last week that this was coming and that the dollar index was at a resistance area at 89.00 that on five occasions over the last six years been a pivotal area to break through. With dollar-resistance and Q2/H1 reporting due, it was always going to be easier to buy risk, sell safety, and by default close out profitable YTD Usd trades than it would be to make the next leg higher on an already overbought greenback.

The moves on the major pairs were instigated by Usd/Chf and Eur/Chf moving in automated response to the Swiss National Bank interest rate decision and comments, and from there, with Usd/Chf dropping a weeks’ worth of trade in 30 minutes it was only a matter of time before the major pairs followed along. As soon as equity markets found buyers that was it, the dollar index collapsed.  Price updates are in the trade plans for each pair.

New! As from Jun 01 10 the signals posted to clients each day will be inclusive of any Trade Plan that the trade team sees as having the potential to move.

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TheLFB Signal output to clients has been registered with MyFXBook (detail below) so that clients can track and monitor movement in real time.
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