The USD session price recovery back @95.10 basis point have been the result of the lowest Jobless claims #'s after registering a low @94.39 which is now considered to be the low for the closing month of April. A corrective move for the USD which is in line with our market overall outlook. The ISM figures for Friday's closing would be carried over towards the month of May's trading activity.Furthermore, provided some relief across the board for the rest of the currency pairs which also have pared the price difference from yesterday's move. This should now validate & confirm the technical "Dark Cloud" formation and uncertainty which we have previously mentioned from the end of the 1st quarter review. Link: Recall: End of 1st Quarter Review
The technical's emphasized not merely an engulfing bar for the USD Index but more of a "Piercing Line" which composes the past three week's of April's trading activity. The limited upswing with the USD would be short-lived on a daily basis as the direction of the price swings would still be on both directions due to the volatility and the Tug of War between major players in the market.
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