Forex Blog by Greg Secker

The Dow opened Friday with a continued decline. The index bottomed out just below 11,300 and proceeded to consolidate the rest of the day, ending the session with a loss of 52 points. The movement within the aforementioned range continues, therefore a range breakout is still what we are looking for decisive direction. At its close the FTSE was 57 points down at 5,354 and this week we look to further potential downward movement as the August doldrums take hold. Sideways movement over the days to come is indicated with even Bank of England interest rates unlikely to cause much of a stir this week. Oil is trading at $125.51 and Gold $921.60. Good trading and speak with you tomorrow.