www.TheLFB-Forex.com A Forex trader Portal
The regular U.S. battle to find fair value on stocks, bonds, futures, options, and commodities now ensues, and by default has forex value pulled all over the charts. Between 07:00EDT and 11:00 EDT, the European market close, the moves to set values for the remainder of the Wall Street session tend to create excess volatility, and cloud the view of where the forex markets are going.
Tuesday will be no different it seems, as the market absorbs strong economic data from most major regions, and now decides on how strong the dollar is going to be. The major pairs look capable of holding the European session moves, but they will require positive stock trade from the U.S. to do so through the whole U.S. session.
Bonds, equities, futures, commodities, all dominate in the U.S. session and as a result forex values are pulled from pillar to post as major global markets wind down their trading day just as the largest commodity, bond and stock markets get go from 07:00 EDT. That is the reason that seasoned forex traders do not expect too much to happen, (and they are usually correct), from 10:00 EDT until at least 19:00 EDT.