www.TheLFB-Forex.com The Forex Trader Portal
Overall, the dollar saw a lot of strength during the overnight session on Tuesday. Despite this, the market reversed very easily during the U.S. open, as the S&P futures failed to break below the 877.00 area and a release showed that consumer confidence improved more than expected in the U.S. This caused a sudden swing in sentiment in the financial markets, which helped the pound, aussie and the cad reach a new high for the current year. Ahead, the market is expected to remain tolerant to risk, something that should further empower the majors.
The Euro (Eur/Usd) declined as much as 150 pips during the overnight session, running through all pivot point levels. The U.S. open reversal, together with positive news releases, during the U.S. session helped the euro recover almost every pip lost earlier. During the Asian session, the euro fell 30 pips.
The Pound (Gbp/Usd) bounced off the 1.5930 area in early Tuesday’s overnight session, falling 140 pips. From there, the pair started slowly to move higher and retrace every pip lost earlier. By the end of the U.S. session, the pound posted a minimal gained, but the pair surged 40 pips higher during tonight’s Asian session.
The Aussie (Aud/Usd) saw a lot of volatility on Tuesday, as investors had a sudden change in mind when it came to the aussie’s valuation. The pair dropped 110 pips during the overnight session, paring the declines of the last three days of trading. In the second part of the European session, the aussie started to reverse the moves made earlier, and by the end of the day, the aussie had gained 180 pips from the session’s low. In tonight’s Asian session, the aussie fell 30 pips.
The Cad (Usd/Cad) rose as much as 120 pips by the middle of the European session, but the uptrend was very easily reversed in the second part of the day. Positive news releases helped oil reach a new high for the current year during the U.S. session, something that also empowered the cad. At the end of the day, the cad declined 85 pips reaching a new low.
The Swissy (Usd/Chf) gained 90 pips during the overnight session, touching TheLFB R2 (1.0915). During the U.S. session, the pair retraced completely the move seen earlier, but still the pair was not able to break below the 1.0810 support area, which holds the swissy for the last three days of trading.
The Yen (Usd/Yen) saw a 40-pip range during Tuesday’s trading session, even though the rest of the major pairs posted important gains. However, shortly before the opening bell of the Asian session, the yen surged some 40 pips higher, breaking the range seen previously. For now, the yen trades just under the 100-day moving average.
TeamLFB provides forex related market analysis and trade signals