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Greetings again, Everyone!
The Markets see some slight Buoyancy out of the IntraDay Consolidation Areas, as Price chooses some Directionality in most Currency Units as we transition from the Asian Session into the European Session.
EZ Equities are bidding slightly higher, and The Queen is taking advantage of this Momentum… as is the Euro Pound.
The Commodities of Crude Oil and Gold will give us a bit of Immediate-Term Insight concerning The Dollar Strength and Weakness of most Majors as we move ahead.
Major potential Catalysts today will certainly be U.K Retail Sales ( which will directly affect these Two Units…), as well as U.S. Jobless Claims and Leading Indicators.
When Price sees Macro-Consolidation as we have seen all week… It looks for any Impetus to Clear Congestion and Clip Ranges for “New Re-Positioning”.
Here are The Hourly Views, so give them a Click for Various levels, as we have Commentary above, as always.
Post-Time is 8:15 GMT.
Cable is trying to Break this Clear Range of Consolidation here as evidenced by the increasingly Longer Wicks, as Price needs a Catalyst through the 1.6507 Daily Static Resistance for any real Bullish Sentiment to re-enter The Market. We do have an additional Momentum-Push here coming “indirectly” out of The Crude Oil Rebound, which is affecting The Dollar.
Unless Price can Clip and remain above this Resistance Area, then The Queen sees potential for Depreciation through the 1.6290’s “Transitive Rollover” Support to the 1.6200’s in the Near-Term.
Euro Pound seeks to take advantage of The Hourly Descending Triangle, as Price builds Energy and Momentum to Clip the Triangle Base @ the .8490 Area.
If this is Seen with Significance, a Return to the Downtrend Channel Area-Break is certainly possible in The Near-Term… as Price then looks to Clear the .8420’s Hourly-Low here in this View. A Negation of The Triangle to The Upside sees a return to the “Larger” .8550’s/60’s Resistance in the Immediate-Term.
As we see this Price Sentiment, have a look at The “Currency Majors Technical Perspective” Report just published for more Immediate-Term Detail, and I will be back with you, as always, throughout The Trading Day for more Updates!
Let’s See if Price can Clip o few of these Ranges we have been Working In all Week!
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