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Members 4 Hour Usd Trend and Momentum Updates:
Long Dollars, But Overbought: Five out of Six dollar index drivers are in short mode, and all are Oversold. Therefore favor the long side of Usd trade, with a slight reduction in lot size. But, bear in mind, we are due a technical reversal of Usd buying, the question is whether that will be strong enough to get the Trend back long on the global market drivers.
Last week the rumblings of how the economic cycles are stalling, that we now have to re-visit low historic price points, that suddenly global growth will not be in play, and that the silver lining on the cloud had gone, all helped justify to the global market demise. This week however the tone, albeit that it is a tone set ahead of markets moves, is jolly, for whatever reason. By design, or by fate, the economic cycles play out, and are manipulated by a global market that should reflect the net psychology of the participants contained therein.
However, we will cut through the noise, focus on the 4 hour charts (the mid-range time-frame that links the past to the here-and-now), and get the market pulse directly, on our own, away from the headlines and sound-bites.
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