Article Summary:
Greetings Again, Everyone! We bring back our two Commodity Currencies from our previous Update at 1:00 GMT… only to find them under Accumulative Consolidation as we await Data Points, as well as Price simply looking ahead to Deep or Shallow Retracements… or perhaps
Article Content:
Greetings Again, Everyone!
We bring back our two Commodity Currencies from our previous Update at 1:00 GMT… only to find them under Accumulative Consolidation as we await Data Points, as well as Price simply looking ahead to Deep or Shallow Retracements… or perhaps none at all!
Consolidation can work this way for us concerning Price…
When we have such Strong and Solid Momentum, Price does not usually require “Classic Technical” Pullbacks or Corrections… as we are not really dealing with “Impulsive and Reactionary” Directionality.
In many instances… a bit of “Rest” through Accumulation is all that is needed for Price to continued on It Way.
While The Canadian Dollar waits for CPI and the Australian Dollar holds Its Gold Correlation… The Queen has to concern Itself with upcoming Bank of England Minutes at 8:30 GMT, as Quantitative Easing is still on the Agenda of Concern for the U.K.
Here are the Hourly Views of all three Units to see where we are moving forward… and where we may go as we move throughout The European Session.
Give the Captures a Click, and Post-Time is 7:30 GMT.
For more Insight and Immediate-Term Detail on the Four Majors, feel free to take a look at the “Currency Majors Technical Perspective” Report just published, and I will see you soon for another Blog Update, as always !forex world
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