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The markets as of late have had a few breakouts. First we had the USD a few weeks back which was off Janet Yellen's speech that caused many pairs to trade to yearly highs/ lows. Then we had the JPY which showed strength carrying several of the Yen pairs to new lows in a rapid fashion.
Both moves however, started with strong momentum, but seemed to have been short lived.
Perhaps we may be seeing a bit of a pause and consolidation before another move. A common occurrence. But I believe the markets are waiting to see what happens next in the equity markets.
As the S&P500 approaches highs it has struggled to break over the past years, several bears have been anticipating a significant decline in the equity markets. So far, we've not seen a strong reversal sign.
A move down in the equities will have an impact on currencies, and over the next few weeks, keeping an eye on the equities may be worthwhile.
Both moves however, started with strong momentum, but seemed to have been short lived.
Perhaps we may be seeing a bit of a pause and consolidation before another move. A common occurrence. But I believe the markets are waiting to see what happens next in the equity markets.
As the S&P500 approaches highs it has struggled to break over the past years, several bears have been anticipating a significant decline in the equity markets. So far, we've not seen a strong reversal sign.
A move down in the equities will have an impact on currencies, and over the next few weeks, keeping an eye on the equities may be worthwhile.
