Tuesday’s European session forex market themes

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After a massively drawn out press conference from Kuroda and the BoJ, I think it’s safe to move back on into some European session themes.
  • Already discussed some EUR/USD technicals into tonight’s medium impact data.
  • Likewise some USD/JPY technicals post BoJ.
  • GBP/USD relatively quiet with the BoE rate decision this week well expected and priced in.
  • AUD/USD still capped by daily resistance zone.
  • The DXY right at support. Risk of a decent lurch lower if it goes. – chart discussion to come
  • The weaker USD helping Oil rally.
  • Oil through $70 again but back into short term resistance – chart discussion to come
  • Supply and transport route issues through the middle east putting more upward pressure on prices.
  • The S&P 500 came off further last night.
  • Everyone seems to be shorting… Never makes you feel good to be one of the crowd. This worries me.
  • Will the Fed shy away from 2 hikes in 2018 is the question.
  • Iran and China making headlines
  • Trump happy to meet the Iranian leader without preconditions – “If they want to meet, we’ll meet”. – Ha!
  • Pompeo on China – “US believes in strategic partnerships, not strategic dependency”. – A dig at Chinese financial aid with strings attached.