Morning FX Commentary
EUR/USD - Good fib support at 1.3555 has provided 2 long entries since yesterday worth 20-3o pips. Despite that, EUR/USD still lacks direction on a short-term basis.
NZD/USD - The pull-back over the last few hours has brought prices into some decent support (.7389) by way of the bull trend-line from the 3/5 low
GBP/USD - We believe that 'wave 4' has finally been completed at 1.9550 (60-min chart) - this should allow for prices to move higher in the hours/days ahead
Dollar Index - Despite the move back above 81.75, prices remain stagnant. We cannot get a handle on where prices are going at this point. Perhaps some of the data releases this week will provide the catalyst to break the range.
Dave
EUR/USD - Good fib support at 1.3555 has provided 2 long entries since yesterday worth 20-3o pips. Despite that, EUR/USD still lacks direction on a short-term basis.
NZD/USD - The pull-back over the last few hours has brought prices into some decent support (.7389) by way of the bull trend-line from the 3/5 low
GBP/USD - We believe that 'wave 4' has finally been completed at 1.9550 (60-min chart) - this should allow for prices to move higher in the hours/days ahead
Dollar Index - Despite the move back above 81.75, prices remain stagnant. We cannot get a handle on where prices are going at this point. Perhaps some of the data releases this week will provide the catalyst to break the range.
Dave