Market READING between #Price_Action & Beyond #Chart_Analysis

In spite of the recent mix reports on initial claims while the market still is digesting the FED's decision to keep rates unchanged have kept the USD weak as measured by the #DXY index that dropped back to the all important key levels at 95.05 basis point in the US session. Meanwhile, the encouraging move of the stock market has provided some signs of recovery trading in their higher band.

A cautious market is keeping the currency market at bay contrary to the European majors rising to levels with the #EURO @1.1257 high and #CABLE barely touching the 1.3120. There are no real conviction to this rally for CABLE; as it lost steam and gradually pulled back to their recent starting point levels. Price action that does not meet the corresponding target range levels such as CABLE @1.3180 - 1.3400 provides the additional uncertainty for a valid rally for now.

VALIDATED: Market & Price Call on @CABLE Price update as of today GBPUSD @1.2947 after loosing steam from its daily session high of 1.3120 https://dwq4do82y8xi7.cloudfront.net/x/C3VqdYhF/ 

One week left for the 3rd quarter trading and position adjustments are being carried out as momentum gradually keeping pace in positive territory giving secular bulls the upper hand of the market. As we made mention in our previous call dated Sept 12, 2016 - US Stocks on a Roller Coaster Ride; ....

" To be ready for some good market action well within the closing of the 3rd and opening of the 4th quarter trading. On the CCY Corner, pay close attention to the #DXY, along with the European majors particularly the #EURO's consolidated price pattern,  #CABLE & #EURGBP Cross Rate as a mirror image."

As the chart below have already indicated a cluster of bar providing the uncertainty of the market then or simply a "shake-out'' As of now the trend line support drawn is still valid unless proven otherwise. TRUST, CONFIDENCE & CONVICTION does matter in this volatile market.