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The trade plans are posted, and are revealing a volatile set of momentum reads, that still require 75% of the first 30 pips banked, and the balance then left to run. We are seeing a global market at overbought levels, that may be impacted by the miss in the U.S. after hours by Microsoft earnings. As such, we are looking for an equity pull-back, and therefore continued volatility in the currency arena.

We are looking at Usd/Cad having to reverse to resistance at some stage before a further drop can easily happen, and looking for Usd/Jpy to reverse off the 200 day SMA area. Outside of those, we are looking at pairs that are getting pulled all over the charts as fair value is found on the dollar.

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. That may be tested by the global drivers that have just moved to test both sides of the intra-day dollar channels, and found more dollar sellers than buyers. This should now unfold well in Asian trade.

As such, we are looking for an equity pull-back, and therefore continued volatility in the currency arena. We are looking at Usd/Cad having to reverse to resistance at some stage before a further drop can easily happen, and looking for Usd/Jpy to reverse off the 200 day SMA area. Outside of those, we are looking at pairs that are getting pulled all over the charts as fair value is found on the dollar.

U.K. GDP and German IFO numbers will very like instigate us having a signal posted overnight. It has been a challenge to wait through the charts forming, but the patience historically pays good dividends. TheLFB signals average 40 a month; in July we have dropped down below that, however, we can see that changing, and probably in quick time.