Forex - Psychology/Strategy for major markets today


 19:35 (GMT) 04 Dec

  [Forex Strategy]

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Psychology/Strategy for major markets today (0101-GLQR-C01)

EUR/USD - Slight range extension but jumping on range breaks prematurely has been a feature of 2018 trade. 1.1450 and 1.1472 are bigger levels, but again pose the danger of getting long at the top.

USD/JPY - Lower US yields and the equity reverse set up a test to the downside. 112.30 next support of note but likely to be tough to reach.

EUR/GBP, GBP/USD - EU Court Advocate General's opinion on Article 50 gave GBP a lift, but UK is a long way from that and dips sub .8900 look overdone.

DJIA, S&P - Trade optimism may have been overdone, but so is recession talk. Volatility persistent, but broader October and November ranges still holding.

T-Bond - US mkts closed to observe President Bush funeral on Wed. Mkt continues to aggressively reprice to a peak and inversion year-ahead view. 30s latest sector to join the big squeeze.


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