Forex Signals

This lackluster session was an appropriate end to a lackluster month of August. The market feels heavy to me yet it refuses to breakdown under the July lows. That could change if we get a bad number out of Friday’s payroll report. Until then, I expect trading to remain muted and contained within some clearly defined ranges. I’d want to get long above last week’s high and short below last week’s low. On the short side I’d be ready to cover quickly if the July lows don’t break though.

Historically, I’ve always liked to see the financials as a leading group. Right now they seem to be on the verge of a breakdown. Some of the banks (BAC, WFC) look especially weak. So I’ll be watching the July low on this index closely.

The trend table continues to look like death…