www.TheLFB-Forex.com A Forex Trader Portal
The final session of the week comes at a price point that most pairs have been in for six weeks now. It is very hard to see, outside of equity markets finding buyers, what will break the channels. As such, the market will continue to look at selling resistance tests, and buying support moves.
Friday also brings sellers to most sectors of the global market, and as such looks as though they will allow the Usd to get bought, and at worst to easily hold support. The European pairs have given back the afternoon Wall Street rally that had them bought against the Usd, and has them back firmly inside the 4 hour chart ranges.
Usd/Jpy is allowing the yen cross pairs to move lower, but take care, there is no volume in the global market today, and forex order flows look sporadic. Not to say that things cannot move, just that they may be a little indecisive.
U.K. PPI numbers are released at 04:30 EDT, looking for an increase from 0.4% to 0.8% in the rate of inflation at the factory gate. A miss lower that 0.4% may pressure the pound values, while anything above should allow current values to hold.