Market Insight: USD rallies higher

With some mix reports from the market, the USD continues its rally setting a new high @84.72 basis point in the American session. This prompted Cable to push even further on top of the widening trade deficit in UK that led the earlier decline for the Pound during the European session. While the limited soft correction for the Euro has held it prices from the recent Cash aid for Greece came through before giving up its recent session gains with a high @1.2897 and working now @1.2768; as the USD continues to move higher touching an 84.72 high, currently @84.67 as of this writing. Daily corrective pullbacks is expected and as long as the USDx remains above the 83.90 levels, it would hold true to its bull sentiments. Although, a decline lower than the figure of 83.05 basis point may prove to be pushing some serious pressure for a near-term corrective phase. Click to continue.

Trend Following: Chart OVERLAY ANALYSIS: EUR GBP USD.5 31

This is an update supporting our Market view analysis: OVERLAY ANALYSIS: EURGBP Cross-EURO vs. USD Index Confirms: Breakout dated: May 21,2013