There really is nothing here at the moment that looks a high probability set-up, outside of the move from cable to regain lost ground at some stage today, and euro still looking the most bullish near-term of the major pairs. Swissy is signaling Usd strength, but until the major pairs break free of the neutral pivot point areas we are in for another day of side-ways volatility.

Global equity markets have just about got themselves back into the green, and now looking for Wall Street to move higher. If so, the dollar will get sold, if not we go back to the sideways crawl.

from ECG

TheLFbMajor Pair
on the days
that global
equity markets
trade in the

It will now will require equity markets to move higher if the major pairs can make the next move up, and hold. As we reported earlier, the major pairs do not need any excuse to get bought; they are only at these levels because of negative equity trade. But, as we can see in June, the moment that equity trade shows any sign of green the dollar is quickly sold.

All the time that stocks are in the red, forex markets will spin their wheels; it looks very much like the dollar buyers, out of desire rather than a need to hedge falling equity prices, are thin on the ground.