Greetings, Everyone!
With the relatively “positive” Data Points out of the U.S. as a whole… the Beta-Risk Units are simply anchoring themselves with Technicals, while Crude and Gold see Depreciation on the IntraDay View.
The Canadian Dollar both in the Futures and OTC scenarios looks for some significant Depreciation as Risk Aversion remains valid with the unexpected API Crude Builds and China’s easing of demand for Building Materials and Energy alike.
The highly-probable Double-Top on the Futures Contract inversely translates into a Double-Bottom on the Spot OTC Price, as illustrated in the Capture.
A “general” Range between the 1.0780’s and 1.1750’s provides a wide area to work in…with the 61.8% Fib Variant of the July 8th Downleg @ the 1.1300 Handle is a probable Area of Focus.
As long as Risk Aversion remains the “Driving Force”…irregardless of Data… The Dollar and The Yen will continue on in their Safe-Haven Role as Assets attract themselves to Low-Yielding Status.
