www.TheLFB-Forex.com The Forex Trader Portal

Overall, the major currencies moved lower compared to the dollar during the Asian session, retracing some of the gains seen recently. Additional downside momentum probably came from the S&P futures market, were the index lost 3 points and re-tested the low made on Thursday, and from the crude oil market, as the raw material is once again moving lower. Ahead, the economic calendar is loaded with important data from Europe and the U.S., which may help the market sustain strong momentum during the day.  

The Euro
(Eur/Usd) is trading once again above the 20-day moving average, as the pair retraced almost half of the gains posted in the previous day of trading. On Thursday, the euro advanced as much as 200 pips, but closed the day only 150 pips higher. During the Asian session, the euro lost another 50 pips. 

The Pound (Gbp/Usd) advanced at a strong pace in the prior day, on Thursday, but during the late U.S. session, the pound topped and started retracing some of its recent gains. Since then, the pound fell approximately 100 pips, from which half came during tonight’s Asian session

The Aussie (Aud/Usd) topped near the 0.7850 area on Thursday during the U.S. session, even though the rest of the major currencies continued to advance. Since then, the aussie declined as much as 50-pips, retracing some of its gains posted in the previous day. 

The Cad (Usd/Cad) almost came to a standstill during the Asian session, as the pair lacked any volume or momentum. Throughout the Asian session, the cad traded side-ways in a channel that was smaller than 10-pips, something that shows the complete lack of market participants. 

The Swissy (Usd/Chf) gained approximately 40 pips during the Asian session, as the pair retraced the declines seen in the previous day of trading. On Thursday, the pair closed the day 120 pips lower, as the dollar weakened across the board. 

The Yen (Usd/Yen) continued to swing around the neutral pivot point (92.95) during the Asian session, similar to how the pair behaved on Thursday. Currently, the yen is trading near the lowest value it almost touched in the last three months, as risk-aversion sent the pair much lower.

TeamLFB provides forex related market analysis and trade signals