Technical Trading Tips and Techniques by 
As of early Thursday morning in New York, recent price action on the majors has essentially been characterized by consolidation. Some traders and analysts have been looking for a continuation of the dollar strengthening trend. Others have been waiting for a substantial correction in this trend. With all of the commotion and confusion in the global financial markets, currencies seem to be in a state of flux, unsure as to the next direction. As the current consolidation matures, direction will once again come back into the market, most likely in a major way. Price on the dollar-based majors is coiling up like a spring, preparing to make a decisive push. Relevant price levels to watch are forthcoming.
UPDATE: As of early Friday in New York, the abovementioned consolidations appear to be continuing, some pairs having formed triangles. More support/resistance levels to watch are forthcoming.
Hi James
Thought I should let you know that I truly enjoy reading your blog, and appreciate your sincerity in updating your blog on a daily basis, and following up your calls too. Although these times are difficult for many, you have kept your commitment to fxstreet and to the readers.
Thanks once again.
regards
su25
Hi su25,
Thank you so much for your comments. I truly appreciate your extremely kind words and your consistent participation on FX Street blogs. I do understand that these are difficult and confusing times, and I will always do my best to update this blog to the best of my ability. Thank you again for your comments, su25!
- James