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S&P500 Intra-day; Recovery Not Good For The US dollar

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Dec 01 2011

Traders, price action and momentum are very poor AFTER yesterday explosion after the PBOC cut decision. The FX majors are mostly in intra-day ranges, consolidation patterns from where breakouts will occurs, but most likely with dollar negative reaction. The reason is the S&P500 which shows impulsive but incomplete advance from the lows. In the near-term we will liekly see a pull-back into 1230/35 zone from where we will look for a bounce into a wave (v), when also US dollar short positions shoudl be interesting on the FX market!





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