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Forex: Weighing Reversals for S&P 500, USDollar, GBPUSD

Forex: Weighing Reversals for S&P 500, USDollar, GBPUSD

2014-02-14 23:30:00
John Kicklighter, Chief Strategist
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Talking Points:

S&P 500 has rallied back to record highs, US Dollar dropped 10 days and GBPUSD positioning is a record

• This past week was one of trends while next week will focus on how long these moves can persist

• Against price, we have technical levels, diverging fundamentals and extremes in positioning 3:20 PM

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This past week was one of trends. The S&P 500's sharp rebound towards record highs and the USDollar's 10-day straight collapse speak to 'risk appetite'. And yet, the fundamental drive and participation levels behind these moves generate more doubt than conviction. Are these thematic benchmarks due to reverse or has this been a point of acceleration for renewed trend? What does that mean for pairs like GBPUSD and NZDUSD which see record speculative positioning calling for reversals? We discuss the key moves, fundamental themes, catalysts and trade opportunities for next week in the weekend Trading Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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