As the Greek political troubles serves as the back-drop and the forefront runner on the European side; the market couldn't help but use it as the one of the reasons why the Euro is pulling back down from its high of 1.4281 last week. However, it was more of the good figures from the Jobs data that helped the ailing USD at the closing and opening of this week's trading sessions.The irony of the matter, is that most of the traders and analyst have been caught flat-footed on the extensions that the GBPUSD and the EURUSD made towards the highs. The hysteria market on the USD built by major players led the USDX to move back down to its psychological support price of 75.63 causing the Gold prices to find some extension highs at the USD1397.90 - 1398.30 as of the European trading session. With the USD recovery in line with the corrective phase of this quarter; we may now see some play between their Average True Range and a wider market price swings toward the end of this month of November. A consolidation of a wider perspective would be made. It would also include a gradual basin formation of the USD as position adjustments towards the end of the quarter is being made.
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