Good Morning Traders

Things look relatively quiet in today's morning session, we have seen no major moves worth nothing. Yesterday of you followed our advice you would have made some profit as the 'Buy The Dips' mentality played out again after the initial sell off at the US market open. We saw new highs on the DowJ and the SPX but these levels didn't last to long and the equity market sold off into the US close.

For me personally I always pay close attention to what happens in and around the closing bell, as it shows to me the trading mentality of traders and market makers, are they happy to hold positions overnight or are they quick to cash in and take profit. In this instance it looked to be the the latter, and this is something that I use to gauge market sentiment amongst traders.

In the FX market we have seen the EURUSD pair come under pressure as it trades down at 1.28600. There is a 'Death cross' forming on the daily chart and if this cross follows its usual path we could see the Euro come under serious pressure making a move lower testing the previous lows around the 1.26-1.20 handle and don't forget any indication of a reduction in QE form the US or increased rate cuts from the ECB will support this move.

Happy Trading
@lowkeycapital