DXY EUR GBP & AUDJPY :
The current talks of negotiations by both parties in Washington on the government shutdown and debt-ceiling extension have provided some relief recovery for the US Dollar. As there is still no sure fire agreements made, at least the reconciliatory meetings have likewise given some serious representatives that playing with fire nearing the debt ceiling cliff would send wrong signals to a prolonged market stalemate.
Considering price action in the financial and equities market, the USD Index have recovered from the recent low @79.63 basis point and ended the week slightly higher @80.40. A slow yet cautious price action can be seen across the foreign exchange market, where skeptic investors have seen short-term trade set-ups relative to what each currency pair can only offer. A USD bullish call can only be reflected beyond the 50% Fibonacci retracement level @81.50. And a stronger catalyst should be able to do so from a certain market direction coming from Washington, unless a counter-trend would be reported unexpectedly from the Eurozone. Click here to continue
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