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The dollar put in a decent shift yesterday to recover off the lows after the lack of jawboning from ECB president Lagarde, but the bounce in the greenback owed much to the slump in equities as jitters resurfaced in US trading.

WCRS 11-09

The new day is seeing the dollar mildly weaker but the ranges among major currencies are still largely more narrow for now. EUR/USD is a little higher at 1.1835 but trapped in between its key hourly moving averages as the drop yesterday held at the 100-hour MA.

Meanwhile, AUD/USD is keeping a little higher on the session but trades within at 26 pips range and also stuck in between its key hourly moving averages for now.

The GBP/USD chart continues to intrigue as sellers held on at 1.3000 for the most part and drove price lower below the 50.0 retracement level @ 1.2867 yesterday.

The 200-day moving average @ 1.2737 is starting to look like a potential target amid the continued Brexit setback weighing on the pound.

Looking ahead today, all eyes will be on equities and though US futures are up ~0.7% currently, sentiment remains rather fragile and yesterday's price action in Europe moving to North America is but a testament to that.

Wall Street will hold the key ahead of the weekend and that will dictate trading sentiment for the dollar and risk currencies as well before the week comes to a close.

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