DIBS Breakouts on Monday – NY Session Smacks the USD

Looks like the DIBS had some good fortune today with a day of solid selling in the USD, this showed up with some well correlated DIBS breakouts on the USDCHF (short) and EURUSD (long). Today was a fine example of the London session being somewhat mixed as USDCHF staged a downside breakout up at the 8940’s resistance area (previously support) while EURUSD spent some time bouncing and ranging. Once the NY session got going and some US economic data releases started hitting the tape, the USD-selling campaign really got going with some pretty good R:R DIBS opportunities.

So far this week, it looks as though the spell of USD strength from the last week and a half is taking a breather.