EURUSD is trading inside a symmetrical triangle on its 4-hour time frame as traders can’t quite establish a clear direction on the pair. Price is testing the top of the triangle around the 1.3875 levels but stochastic is reflecting selling pressure.
With 90 minutes before the start of a new week of trading in the U.S. markets – futures are pointing to a slightly lower open despite uncertainty whether the U.S. Federal Reserve will being tapering its $85 billion asset buying program.
Welcome to today’s Morning Coffee Break – This morning is the day market participants have been waiting for since Fed Chairman Ben Bernanke’s Jackson Hole speech a couple of weeks ago. U.S. Equity markets are likely to remain in a fairly tight range ahead of the Federal Reserve’s key interest rate decision and policy statement scheduled for today at 12:30 a.m. ET. Followed the all-important FMOC economic forecast which could reveal
U.S. markers end the day yesterday mixed on the Federal Reserves’ extension to year end for Operation Twist and the lowering of GDP forecast. Futures today are suggesting continued red ahead of the bell.
Futures are suggesting the markets could build on yesterday’s bounce. Futures are up ahead of the open with S&P fair value at +13.00 and NASDAQ fair value at +21.80.
Labor Department Weekly Release out – are they forecasting the Friday’s Non-Farm Payroll release?
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