Greetings once again, Everyone!
The IntraDay Market Corrections we have spoken of have surely come to Fruition, as The Dollar and The Yen strengthen on overall Market Sentiments.
The Dow and The S&P are largely “flat” coming into additional Bernanke Testimony, as we are, once again, dealing with Ranging and somewhat “Directionless’ Market activity moving forward.
We can see with The current EUR/USD Activity that even though we have plenty of IntraDay Volatility and Macro-Factors to use as Impetus for Movement… We really are still dealing with these “larger” Consolidations of Activity out on the larger Time-Cycles.
Here is The Capture, so give it a Click for this Range we are speaking of, as price currently sits on the 1.4080’s Dynamic Support Areas. Continued Clearance here to the Downside may certainly see a “Re-Test” of the 1.3800 Handle of Mid-Term Support.
Give the Captures a Click, as always, and Post-Time is 17:15 GMT.
The Hourly View sees clear Delineation of the Price Appreciation, as we reverse with probable Profit-Taking and Equities Correlation weakness as we move forward.
A Clip of this Dynamic Support can certainly see the 1.4080’s “In Concert” with the overall Daily View.
As Bernanke continues on, we will monitor any additional Rhetoric moving forward and I will have an Update for you as we move towards the NYSE Close!
Please stop by for a visit then!
