USD - A Major Correction! vs. CABLE & CHF Strength

Staying the course on the USD decline has been defined since retreating back from its high @81.02 levels and currently making a follow-through @79.80 basis point briefly touching a low @79.75. These moves have been identified and reinforced from the negative GDP with some delayed reaction while building enough momentum to carry-over the opening of the new contract month of July which is the beginning of the 3rd quarter, 2014.

The shortened trading week towards the 4th of July celebration; on top of a blitz-full of major Jobs figures & other data to be released would really provide a thinly traded market with enough zest for price action both for the Stocks and Foreign Exchange markets combined.with the May trade deficit and the June index on the services sector from the Institute for Supply Management. On Wednesday, U.S. Federal Reserve Chair Janet Yellen is scheduled to speak on financial stability at an International Monetary Fund conference in Washington would indeed bring itn the fireworks.

Anticipating new record highs for both markets with the current "Reinforced CABLE Price Trend and CHF majors gaining strength have further pushed the US Dollar nearest its lows." The alignment of the USD Index movement with the USDCHF which we have previously called have again showed its true colors with the USD Top heavy technical and fundamentally driven market have justified its major correction for the past few weeks now.

Meanwhile, with the USDCHF registering a low @0.8861 and CABLE's new high @1.7112 have stayed well ahead of the stock market prices before the end of the week's trading. But these prices set-by both majors have already fulfilled its initial objectives in setting a new  record for the closing month of June. Watch for the price action volatility during and after the market re-opens on the following week of the 3rd quarter trading activity.