The timing of a weakening Euro-Zone CPI and threats of deflation has found its way right at the month's trading. Justifying a short covering rally for the USD with a full percentage point higher than expectations have supported short-covering USD and position adjustments from most short dollar contrary with particular long liquidations on the Euro and Cable.
Meanwhile, the DXY has held its major support nearest to our obejctive @78.80 basis point (Price call dated Oct.18)where it registered a low @78.93 on Oct.25th and has turned gradually higher. With the final momentum push today to as high as 80.78 to this writing. Trading volatility and price action have been more concentrated with both European majors declining to their respective low @1.3479 EURUSD and 1.5915 Cable.
Classic Open-Ended Trade
MEGATRADE101.com - The Business of Making the Right Trading Decisions Beyond Charting & Price Action Analysis
No comments:
Post a Comment