Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for July 24.

In almost all uptrends and downtrends after a particular market move, prices retrace a portion of the previous trend before continuing the move in the original direction. Studies show these countertrend moves tend to fall into predictable percentage parameters.

EUR/USD has moved lower to test the shown uptrend channel support.

Australian consumer price growth in the second quarter is expected to have accelerated 1.0 percent from the previous quarter, as drought conditions led food prices higher and lofty oil prices kept energy costs elevated.

Derek Frey provides weekly market commentary on currencies for the week of July 23.

The British pound set fresh multi-decade highs against the downtrodden greenback, with overall momentum and reported technical difficulties allowing the GBPUSD through 2.0600 on the day’s trade.

Currency strategist Boris Schlossberg analyzes the major currencies for the week of July 23.

Currency technical analyst Jamie Saettele analyzes the euro against the Japanese yen, Swiss franc, and British pound.

The pattern is confirmed on a break below 120.75.

The week started exactly as the last week ended with the dollar being liquidated across the board.