Another positive day yesterday, read yesterdays trade review for colour on how it went down. Sterling is taking a beating post Carney’s outlook and interest rate decision, the bearishness weighted by recent weak wage growth data and no movement on interest rate hikes until the situation changes. Also WTI and Brent continue their downward spiral in the face of OPEC cuts and the larger than expected API draws last night. Profit taking in equities sees a modest decline of throughout the US and overnight Session.
Dollar index weighting, interesting levels. break above the resistance, will short majors against the dollar. If it retraces to the bottom of the range, will again short majors against the dollar. Higher risk reward on weighting would be from the bottom of the range.