Dollars & Cents
Equities rallied again hitting a new high on most of the indexes. The dollar
sold off in anticipation of comments or hints from the fed that they will likely
slow their bond purchases.
The EUR/USD rallied today with the weakness of the dollar in anticipation of Ben Bernanke’s statement on Wednesday. Thought he bounce was solid today, we expect the trend to continue lower. In the event there is a major shift in monetary policy from the Fed, the trend could change dramatically. (see EUR/USD below)
The USD/HKD pulled back, as with the other dollar crosses. The pull back is keeping us in a consolidation pattern. We will watch price action going into Wednesday to determine if we are going to take profits or let this trade run. (see USD/HKD below)
The AUD/CAD bounced and rallied higher. We are still watching for price to fall to previous support for a new add position. If price continues to rally, we will tighten the stop to protect gains. (see AUD/CAD below)
The EUR/USD rallied today with the weakness of the dollar in anticipation of Ben Bernanke’s statement on Wednesday. Thought he bounce was solid today, we expect the trend to continue lower. In the event there is a major shift in monetary policy from the Fed, the trend could change dramatically. (see EUR/USD below)
The USD/HKD pulled back, as with the other dollar crosses. The pull back is keeping us in a consolidation pattern. We will watch price action going into Wednesday to determine if we are going to take profits or let this trade run. (see USD/HKD below)
The AUD/CAD bounced and rallied higher. We are still watching for price to fall to previous support for a new add position. If price continues to rally, we will tighten the stop to protect gains. (see AUD/CAD below)
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