Usd Pull-Back Offers Opportunity

The global markets moved through a sideways crawl that held prices in a 18 hour range on the major pairs. The lack of momentum was not helped by European equity futures that gapped higher at the open, and were then unable to fold the move.

The lack of cash market activity to match potential shown in futures trade is undeniable, and is creating a lot of volatility as each regional trading session opens and closes.

The Usd lost ground to the Japanese yen after it was reported that the Bank of Japan would be keeping interest rates on hold, but would be expanding a $33B program to extend credit to companies.

The other major pairs all initially lost ground to the dollar as European trade got underway; however the moves have been sporadic.

The forex, commodity and equity moves as each regional session opens and then unwinds is a replication by trade desks of that same trading pattern; set your entry, adjust exposure, hit a near-term target, sell a percentage, lock up the Stop.

The reversal of the short-dollar moves on Sunday/Monday will allow the laggards to buy the dips, so long as equity markets can hold support.

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