Friday, August 18th, 2017

Forex Daily Outlook November 3, 2009


A full day of volatility to summarize the beginning of the week. The DOW Jones was initially lower following the CIT bankruptcy announcement, then managed to rally by 100+ points as the dollar faded, but then as the buck rallied back, the DOW quickly turned negative, before another run higher to finish up the day positive by76 points with the buck mixed, but nearly unchanged. Yesterday was consolidation at best as bears and bulls tested the waters in both directions before giving up ahead of very important economic data. Expect more consolidation but no major breaks until the US Federal Reserve and the Employment figures paint the bigger picture and risk appetite driving the short term trend. We expect the US Federal Reserve on Wednesday and Non-Farm Payrolls on Friday to trigger the next major move. It will most likely be a combination of factors, with the latter confirming or reversing the initial reaction to the Feds policy outlook. If youd like a more detailed analysis with potential trade opportunities during our live trading session, please join us in the members area. SpotEuro, LLC www.spoteuro.com

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