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We have completely mixed global market trends, with flat momentum reads, and that indicates complete indecision, which is fine, that happens sometimes. However, to get those reads as some high of the years are tested is not a great sign that a continuation play can happen. The forex pairs are looking a little lost after the initial ground stolen against the Usd on Monday was unable to be built on, with the most bearish pair now being cable,
Gbp/Usd has just hit the Trade Plan short numbers, just take care in the exposure to the break, it is moving without the backing of the other major pairs. The the 4 hour charts have not been able to move too far from the reads that set themselves at the end of May. The trend reads are very mixed, and the momentum is holding around the neutral area; not something, when added to a mixed global driver picture, that is too inviting to be a part of. Reduced lots, and tight targets is the order of the day on the major pairs.
A completely mixed global market driver picture is unfolding, with some areas in long trend, while at the same time an equal amount are in short and mixed trends. The momentum reads are moving towards a neutral stance, and with such a mix of trends it seems hard to understand where the next moves are going to come from unless a infusion of speculative interest and institutional volume hit the exchange floors. Reduced exposure in one way to overcome the situation, at least until a direction and strength read is seen that is clearer than this.