Market Update : Stocks are opening higher and the dollar is weaker across the board. However, most pairs have seen only a fraction of the excitement in EUR/USD and GBP/USD. The EUR/USD just hit a new high on the day, but volume is not very supportive of a continuation. There are clearly a good deal of sellers still fighting. Another reversal is not out of the question, but we want to see at least a 5- or 15-min candle close that confirms this. Unfortunately, waiting for an hourly close may cause us to miss then entire move.

Risk Disclaimer: Trading foreign exchange Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. FX Renew Forex Signals are not specific trade recommendations or a solicitation to buy or sell any Forex contract and should be personally evaluated by you before executing any trades. FX Renew will not accept responsibility for trading losses that result from our Forex Signals. Past performance is not necessarily indicative of future results.