Special Consultant to the FPA
After news came through overnight of Larry Summers removing himself from the running for the Federal Reserve chairmanship, the USD gapped lower against most of the major pairs. These moves could have been a little excessive due to the bank holiday in Japan and the thin liquidity that was present. Today we are looking for these gaps to be filled and the moves to be reversed slightly - but only as the price moves into key levels of support and resistance. Look out for selling opportunities on the EUR/USD from up at the 1.3400 and 1.3450 area during today's London session.
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