With European banking stress tests out of the way, global markets face a relatively quiet week of macroeconomic releases.It's likely equities and commodities will test resistance, while the past of least resistance for the dollar index is likely to be a test of support. At the moment, the foreign exchange market isn't able to make sustainable breaks that hold from one session to the next, and the sporadic volatility is likely to be in play all next week. Market attention will focus on earnings reports, and that will provide the most momentum to the market at 2 a.m. EDT and 7 a.m. EDT as European and U.S. markets realign fair value. The technical outlook is mixed, although it favors the long side of trade, while the fundamental outlook remains as clouded as ever.
|Forex Tools |
|Trade Plan of the Day |