There are reversal signals on the 4-Hour charts that are against the major currencies, but will need Tuesday trade to close before confirming that the majors have enough speculative interest to maintain the recently moves against the greenback.
TheLFB Hot-Spot Program is designed to give the trade desk a way to quickly analyze global market momentum and near-term price points.
Near-term Forex Hot-Spots
Aud/Usd gapped higher and then just sat there, and as much as this is a bullish pair it is hard to buy a near-term overbought read; the path of least resistance may be a test of 0.8700 support. Usd/Cad is in a short momentum mode but will need to see a reaction to 1.0250 resistance before we can get involved.
Usd/Jpy made a break higher against the trend, through the 200-day SMA area and we now await a re-test of support at 90.90.Global Market Hot-Spots
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.
TheLFB Signal output to clients has been registered with MyFXBook (detail below) so that clients can track and monitor movement in real time.
The daily flow of Signals cover 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 guidelines and email updates.
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.