In our recent market vew analysis dated the 1st of October we have defined the heavier fundamental factors influencing the foreign exchange market. The price action and market behavior reaction to these issues surrounding the market were carefully studied before and after the fact.
The recent lower opening gap for the USD as measured by its DXY equivalent resulted with a slight corrective move and followed through with a decline reaching @79.62 basis point to this writing. And a similar reacton from the Euro after the ECB remarks have added to the USD decline that pushed the EURUSD @1.3630. The contrary move by Cable pushing back to 1.6160 have finally supported the EURGBP cross price reaction from its support slightly lower @0.8330 and is currently @0.8438 recovery price levels. The closing prices of the DXY and majors are critical as they would provide a glimpse of how the market would move in the weeks ahead. Especially a delay on the NFP report would spark a sudden unexpected move within the market contrary to its present sentiments.
Price Action & Market Behavior
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