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