A few hours before London opens for Tuesday's trading and we've seen the dollar weaken vs. the majors over the past 24 hours. We are looking for a top on the EUR/USD, and if broken, we are looking for continuation a bit higher with much caution. We are also looking to see if the current dollar gains have been retracements such as in the GBP/USD, NZD/USD, and AUD/USD pairs. If the market rejects the top of 1.30 for the EUR/USD, look for profit taking below the 1.29 level. Economic data on tap, we'll be trading the BofC rate decision.
Don't forget, we will be hosting Live! Trading sessions this week. Premium members may access the direct link in the Members Downloads section. The room will be open 15 minutes prior to trading.
If you'd like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the member's area.