Sunday, September 21, 2014

Cipher3 Price Action Analysis & Insight

UPDATE: Although, Cable 's push higher came through on the confirmation that Scotland remains with UK, the Pound lost it steam at the closing session with a pullback below the 1.6300 levels. While the USD regained its session strength closing on the high side of its range. These moves at the closing for the week is quite normal and could be seen across the board at the closing prices.

The total volumes and volatility index for just this past couple of weeks have been substantial. Yet, for Cable alone would still be called within its directional trend lower from its high. As the referendum is finally over, so its back to the same market sentiments, which still calls the USD higher and  the strongest among the currency pairs. Followed by the J. Yen as the weakest, after reaching a109.46 USDJPY price point before paring off it gains and back @109.00 even levels. These incremental moves of double digit declines are simply a mere corrective mode while within their respective trends. While again, waiting for the right time to resume their direction is waht everyone is watching for.

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