The Monday trading session saw further separation in global trade patterns, with equity markets holding support, oil markets finding buyers, gold markets moving lower, and the dollar index standing still.
The participation levels are very light, with speculative price action coming in sporadic fits and spurts that have been unable to challenge the previous session highs and lows.
Forex pairs are running on regional growth-to-debt outlooks, macroeconomic reactions to calendar releases, and on weak sentiment that has seen the 4-hour chart trends hold against the Usd in general, but on low momentum.
In these conditions it is important to bank in stages, to pull the stop loss tighter after the first round of profit taking, and look to be out of 60-70% of the trade ahead of a test of the high/low of the previous session.
Eur/Usd has 1.3000 and 1.2900 as the price points of note, while Gbp/Usd consolidates around the pivotal 1.5250 area.
Aud/Usd is playing tag with the 20-day SMA (Simple Moving Average) at 0.8650, as Usd/Cad ignores positive oil trade and holds support 1.0480.
Usd/Jpy and Usd/Chf are separating from the lock-step moves lower against the dollar and in the near-term have both seen a bounce off support.
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.