Forex Trader Note: Asian markets closed lower, with
futures' markets falling in response to Friday's Wall Street sell-off.
Despite this, the S&P futures managed to add 5 points during the
Asian and the early European sessions, bouncing off the 1030 swing
area. The dollar index and the yen were sold across the board, after
the major pairs reversed bearish gaps.
Red Flag Economics:
04:30 EDT Gbp Man. PMI Exp 49.5 Prev 50.1
10:00 EDT Usd ISM Man. Exp 53.1 Prev 52.6
10:00 EDT Usd Pend. Home Sales 0.3% Prev 6.4%
Dollar Index:
The 76.00 area now becomes the swing-point for the dollar index. A four
hour close above that price point signals a market willing to test the
resolve of Usd bears
S&P Futures: S&P
swing point at 1030 is being tested as support. A four hour chart close
above that will continue the long trend, for now. The Usd and S&P
are inversely inversely linked, long equities allow the dollar to go
short
Crude Oil: Oil found buyers at 76.50
previously, and really does look to have to close above that area in
early trade in the coming sessions to stave off a short-sided wave of
orders
Gold Bullion: Long overall trend, on all
time-frames. Look for continued strength as a play against future
inflation. The 1040 area is the four hour charts swing point area to
work a direction from.
