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Greetings, Everyone at The NYSE Close!
As we discussed in our previous Posts today… The Equity Markets are largely “Flat” today, and provided no real useful Correlation Activity for our Purposes here in the FX World.
The Yen Crosses largely continued on with their Risk-Averse Dollar Strength, as did most Major Units concerning The Dollar.
In my personal View, most of our Volatility came today in Commodities, as we saw earlier with the “Noisy” and “Erratic” Behavior in Crude Oil and Gold.
The Queen looked, perhaps, the most Volatile of The “Four Siblings” , as The Pound worked a 270-Pip Range into a “Feeding Frenzy” with Massive Swing “Whipsaw” Behavior.
Here is The Daily and Hourly Views for an IntraDay Illustration of The “Sharks in the Water”, if you will… hee heee….
Give The Captures a Click, and Post-Time is 21:20 GMT.
The Daily gives us a Clear View of the “almost” Double-Top Formation Completion we are seeing here… with “Full Textbook” Completion to be seen at the back into the 1.5350’s… although surely this is not In Favor in the Near-Term.
The Hourly is largely still Rangebound between the 1.6220’s Support and the 1.6480’s, Price is “caught” Mid-Air as an IntraDay Bull Flag appears to be in development here. Any Corrective Reactions in the Immediate-Term sees the 1.6315 Dynamic Support Area South… as 1.6480 is out Clear Resistance to the North.
Be sure to join me later for tomorrow’s “Big Blog” Post as we work through the current Price Action moving into the Asian-Pacific Sectors.
I hope to see all of You then!
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