FOREX Markets Moving Today – Dollar Breakout

May 20th, 2009

The equity markets have shifted into negative territory despite some great news for Oil supplies. Holding through the close will be key however. Again, a close lower would build a strong case for a sell off into the end of the week.

 

In the FOREX markets – which I haven’t really talked about much lately – things are starting to get interesting. The USD is breaking out across the board. In particular, the GBP/USD is really looking bullish after forming a HUGE base. Today’s breakout could be the beginning of a great Cup and Handle pattern which I will be taking part of later on after a retracement of the breakout occurs. Still, the big move seems to be in all currency pairs.

 

gbp

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