The major pairs have made their moves higher against the dollar, following global equity markets higher, and to expect much more on the last day of the week may be unrealistic. However that is not to say it could not happen. Our concern really is that the Average Trading Range has been used up in the overnight sessions, and pairs may not have too much follow through unless Wall Street moves stocks higher in a big way. TheLFB Trade Team members said. e will update once things get underway with the S&P cash market. The preliminary GDP numbers from the U.S. were posted at 08:30 EDT, we may get a spark of life from that, and if so we will update the price action table detail below.

Pair:Direction:Strength:Comments:

 

Eur/UsdLongStrongPrice Action:
Broke through the 1.4000 area that all week has been resistance. Looking now to consolidate above that area as support. May follow oil higher
4 Hr Update:
RSI  just hitting Overbought levels
60m Update:
Stochastic holding Overbought
30m Update:
PUlling back off Overbought
Technical Update:
Looks as though the pull-back found support at 1.3850. Held the reversal, now looking to hold 1.4000 on strong equity trade

 

Gbp/UsdLongStrongPrice Action: 
Used the major pair's break against the dollar to run through 1.5950. Needs to test 1.6000 as support
4 Hr Update:
RSI at 
Overbought. Volume up
60m Update:
Oversold
Stochastic read
30m Update:
Holding 1.6100, looking to test support.
Technical Update:
The pair pulled back, found support at 1.5800m and now is in full Long mode

 

Aud/UsdLongStrongPrice Action:
The momentum indicators between price and sentiment, are back in line, may need to test 07900 as support
4 Hr Update:
RSI moving into Overbought. Volume steady
60m Update:
Overbought Stochastic read
30m Update:
In a tight trading range
Technical Update:
Broke the 0.7700-0.7900 trading range. This needs an increase in volume to easily break through 0.8000

 

Usd/ChfShortFairPrice Action: 
Revealing the true market sentiment on the Usd, although light on volume, may need to reverse higher
4 Hr Update:
RSI moving into Overbought.
60m Update:
Oversold Stochastic read
30m Update:
Flat-lining at Oversold
Technical Update:
Broke wll in European trade after a period of consolidation. In 1.0700

 

Usd/CadShortStrongPrice Action: 
Short mode, and bouncing off oversold on the momentum reads. Needs oil and equities to make long moves if the short side here is to break again
4 Hr Update:
RSI  has no room left to move lower
60m Update:
Oversold 
Stochastic read
30m Update:
Flat-lining at Oversold
Technical Update:
Swing Point: looking to either go long off 1.1000 in a test of resistance, or to hold and consolidate here

 

Usd/JpyMixedFairPrice Action: 
Consolidating the Long moves, but now trapped between the daily chart 200 and 100 SMA's
4 Hr Update:
RSI  is Oversold.
4 hr Trend trying to hold new Long moves
60m Update:
Oversold Stochastic
has room to
move higher
30m Update:
Found support at 95.50, the swing point
Technical Update:
Absorbed orders at the 100 day SMA at 95.50. Bounced long in a technical reaction to hitting the 94.00 swing points