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At the start of a week that has raised as many questions as answers in regard to Usd Fair Value TheLFB Trade Team are looking for a reason that the market continues it's near-term, long-dollar moves.
The most important thing for us to take from Monday trade is that global equity markets are lower, oil and gold are flat, but the dollar has been unable to move anywhere since the European session got underway; why are the dollar bulls from last week?, the Trade Team said.
This should be a perfect reason to be building long-dollar positions in a risk averse move, but in U.S. trade that is definately not the case. We are looking for the major pairs to bounce off their 20 day SMA areas if equities find buyers, and looking to re-test the long-dollar break-out points on euro at 1.4200, cable at 1.6300, aussie at 0.8100, cad at 1.1000, and swissy at 1.0700, they added.