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Most major pairs are back to the opening price areas from the start of the week, and with a very light economic calendar all week the only driver of currency values is going to be equity trade direction. The historical link of long equity/short dollar trade will now be tested, and we will be follwoing along to gauge reaction and report on anything that looks to be sustainable.
Focus really has to be on the 20:00, 02:00, and 07:00 EDT Asian, European, and U.S. futures opens. It may be that we will be working off tight targets and tight stops in the early part of this week, TheLFB Trade Team said.