Forex: S&P 500 and USDollar Turns Despite Fed May Signal True Bias
• The Fed's 'no Taper' vote hasn't spurred the risk appetite and dollar selling we would have expected
• Should deleveraging continue despite the extended support, we are looking at a far larger trend
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The market acclimating to a deferred Taper world; and given the S&P 500 and dollar performances, optimists may be losing their influence regardless of central bank support. Looking at the long-term technical picture for the market's most optimistic benchmarks - US equities - we find tentative technical corrections. Yet, the fundamental implications of such a retreat following such a 'risk supportive' outcome is far more telling. In this weekend video, we discuss the dangerous conditions faced long-only speculators along with the trades that are best positioned to take advantage of 'risk on', 'risk off' and 'risk neutral' conditions.
Find out what event risk can threaten the trade setups discussed in today's video with the DailyFX Economic Calendar.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.