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Greetings again, Everyone!
We arrive at The NYSE Close with Equities and The indices in slightly Positive Territory.
Gold and Oil still remain “Key Market Drivers” here concerning The Dollar… as Inflationary Concerns ease back just a bit. Mixed Price Action is Seen across most markets overall, albeit the relatively “Noisy” and “Heavy” Volatility and Whipsaw Behavior today.
The Queen illustrates the larger wide Swings quite well from an IntraDay perspective… as does The Swissy… which shows perhaps the most “Solid” Dollar Strength around The Units.
Give these two Captures a Click for Levels and Commentary above, and Post-Time is 21:00 GMT.
Cable gives us the “Spotlight” Unit for Volatility and really shows no signs of Easement in The near-Term. The Swings of 200-Pip Margins back and forth surely provided Opportunity and perhaps Frustration for IntraDay Traders moving within the constant 1.6211-1.6400 Range.
Slightly Bullish Sentiment coming off of the recent Swing-High from Support has Impetus to move through 1.6400 Resistance on the slight Hourly Pullback we are seeing as of Writing-Time.
The Asian Bourses picking up on the relatively positive U.S. Session Activity may be the Short-Term “Catalyst” needed here to see Fruition.
The Swissy, on the “Other Side of the Fence”, is our “Spotlight” Unit for Dollar Strength… and NOT because The Dollar is inherently Strong of Its own Merit.
In my personal View… We always are dealing with various Levels of Strong-vs. Weak in The Currency Markets, and in this case… The Swissy Itself is Weak due to The SNB and B.I.S. Interventions we saw earlier in the Day.
We see Price forming a New “Transitive Rollover” Area at the 1.0850’s as relatively Bullish Sentiment is still In Favor at the moment. Any Corrective Behavior sees a “Pause” at the 50% Fib Variant of the June 11th Daily Upleg… on the way to Static 1.0760 Support.
Please join me in a few Hours for our “Big Post” for Friday… as we observe hoe The Asian-Pacific Sectors pick up on the U.S. Activity today!
Please join me Soon!
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