Good Afternoon,

Fundamentally we saw decent data in the form of initial claims and durable goods. Durable goods, a very volatile number came in just above expectations and rebounded from last month's dismal report. This will be a good number to keep an eye on as it shows big ticket purchases.

Technically, equities went up and then equities went down. They are hanging in at the close and now I think we have a new "local" support area at 1308ish. If we break that level, 1400-1398 is next.

In forex, you would expect to see this from the AUD/USD, where we trend up as overnight markets were up and then down as the US equities start to tail off:

Past performance is not indicative of future results

You would also expect to see this from the EUR/USD - a similar pattern:

Past performance is not indicative of future results

This is not how you would expect things to go. The GBP/USD took off to the upside and kept going:

Past performance is not indicative of future results

This is why it is so crucial to understand fiscal and monetary policy in each respective regional banking zone and then the technicals as you compare one pair to the other.

Happy Trading and Be Environmentally Cool

Coach Brian

Forex trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.