The past three (3) days has been quite a roller coaster ride between the EURO and CABLE. With the EURUSD surging as high above 1.2300 with a pullback at 1.2177 on the previous close. While trying to get a 2nd wind aiming higher currently at 1.2245 price recovery in the early US session.
Meanwhile, CABLE's emerges from a support on BREXIT gaining ground again back to the 1.3940 after breaching its resistance levels 1st at 1.3750 and 1.3885 with a side pullback before moving higher at the back of the report. Thus trailing back to its original trend higher that halted a USD price recovery effort.
An increasing mix of market volatility between the three major market in stocks and the Forex market now have made head winds flare with price swings relatively more interesting to engage with. For now the market remains to still be on course for European majors to accelerate and much to the concern of a strong Euro will give the ECB something to think about.
And the FTSE 100 at a disadvantage currently down at 7687.63 -37.43 -0.47% to this writing simply awaiting for earning seasons reports. While US equities are in the same corrective mode after record levels nearing the end of a short trading week near the 26k handle where it recently broke through for the 2nd round.
Let's see how US equities pare off gains or continue its advances at the end of the week's closing. Then again, the major trend remains positive and any correction may simply end up to be short-live. And for the USD to remain still in search of a bottom near the psychological price at 90.05 basis point before any significant price recovery can be justifiable.
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