The market sensitivity for the majors and its price action for the remaining couple of days trading have dominated the current marketplace with the strength of the Yen and weakness of the Euro have again lifted the US Dollar. With the USDx rising to a new 83.80 basis point high as of this writing, started with Japan's action of increasing its repurchasing program led the USDJPY lower to the previous 79.22 while spinning the EURUSD down to the 1.2170 low, and the GBPUSD keeping pace at the new 1.5432 low levels have left investors the flight to quality US dollar next best choice in slow global growth.
Trend following the US Dollar through its Index have been our main leading indicator relative to the price action of the currency majors and the correlated cross rates. While the European Debt crisis has been the fundamental catalyst for a counter-party price market mover that resulted to a Tug of War between the each currency pairs. Please proceed to our website for a complete analysis : http://megatrade101.com/
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