US DOLLAR DEBACLE

The late trading activity last Friday was apparently a disappointment for other traders, when the negative effects of the Non-farm Payrolls figure reflected a decline in the US dollar. Contrary to a slightly good unemployment figure & the ISM numbers that didn't really sustain the recent relief recovery made by the USD Index registering a week's high @82.49 basis point.

The recent article on "Expectations & Market Perception" dated the 29th of July; that there would be enough room for the USD to make a recovery effort would be seen which still did contrary to its decline on the last trading day of the week. The overlapping trading activity for the new month of August, along with the last week of July have signaled such recovery before the risk events took place. As the candlestick bar of the week-ending August 02 could be perceived as an bullish inverted-hammer (tech-angle interpretation) frequently described as marker for the next price recovery for the USD. While opening with a slight price gap higher from its closing price would build some fresh speculative longs.
  US DOLLAR DEBACLE