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Members Update: 

European markets have absorbed their calendar releases, that included U.K. GDP that came in lower than expected at -2.4% instead of -2.0%, which not only reduces growth forecasts but will now reveal the real strength behind the buying of the pound (if it rises after these numbers we will know that the Usd is in trouble). The U.K. house price index and Current Account numbers were mixed.

Reduced Euro-zone money supply M3 numbers indicate a reduced liquidity in the cash/deposit amounts, and there has been a slight reduction, although still better than expected, in CPI inflationary reads that printed at -0.1% instead of the -0.2% expected. In all, a session that offers a level view of European economics that may not impact the euro too much, but it does seem that the pound will now have its GDP (Growth)/Interest Rate ratios and valuations tested.

The commodity markets have held their value at eight month highs with oil pushing 73.50 overnight, and have seen positive gold trade that is testing 950.00. Asian equity trade was in the green, but only slightly higher in Europe, with U.S. futures numbers holding steady just under Monday's Wall Street close.

That sets up a good test of the major sentiment against the Usd, something now that  these economic releases out of the way will require positive equity trade to follow through. Ahead of the U.S. reversal that tends to hit between 06:00-07:00 EDT each day we will look to the reaction in these numbers, especially as equity trade is not pushing hard to the long side. 

If the dollar is going to easily find buyers, this will be the ideal opportunity and a strong signal that the 4 hour chart channels may hold steady and send the major pairs back to the bottom of their ranges. If not, and the majors break higher, the Usd swing point may be in place.

We have updated the intra-day major pair numbers below.

Intra-Day Trade Plan Updates 

Latest Update: Jun 30 09 05:30 EDT 

These are intra-day possibilities that may hit ahead of the main Trade Plan numbers. These are for active Members looking to trade, and then monitor, the break-out moves. These will be updated as each regional session gets underway, and follow the lead of the Members daily Web Seminar video.

TheLFBMixed Trend

Long: The Trade Plan long numbers are at 1.4140.

Short: If equity markets move lower, and oil reverses off 71.00, look at a move from 1.4040 to 1.4010.

4 Hour Momentum: Neutral

TheLFB Mixed Trend

Long: The Trade Plan long numbers are at 1.6650

Short: Moving lower through 1.6530 to 1.6490, then goes on to pick up the Trade Plan numbers from 1.6460.

4 Hour Momentum: Moving off Overbought

TheLFB Mixed Trend

Long: Trade Plan numbers are in play at 0.8130.

Short: Nothing short all the time that oil and gold are holding higher.

4 Hour Momentum: Overbought

TheLFBMixed Trend

Long: Possible long play from 1.1580 to the Trade Plan area at 1.1610 if GDP at 08:30 EDT fails to hold at -0.1%.

Short: Trade Plan numbers are in play at 1.1530.

4 Hour Momentum: Neutral

TheLFBMixed Trend

Long: Nothing here outside of the Trade Plan numbers at 1.0920.

Short: NoNothing here outside of the Trade Plan numbers at 1.0780.

4 Hour Momentum: Moving off Oversold

TheLFBMixed Trend

Long: Nothing here outside of the Trade Plan numbers at 96.30.

Short: Trade Plan numbers are in play at 95.50.

4 Hour Momentum: Neutral