Greeting again, Everyone!
An IntraDay Update for you provides us with yet another example of “Counter-Intuitive” behavior!
Retail Sales come in rather positive and off Expectation… Good for the U.S…. and the Dollar… right?… RIGHT???
“CVJ!… This is all crazy Price action here!… We are going back to trading our Matchbox Cars and Baseball Cards!.”… the CVJ Fan Club Guys say…
“I taught you guys better than that!… Do you not listen to me?… Ever?…”, I say… hee hee…
In all seriousness here… it is rather simple!
Our Risk-Averse Dollar Strength here is simply “offset” with positive Data…. and in simplistic terms… as we see Strength in the Dollar with Negativity… we will see Weakness in the Dollar with Positive rationales.
“Rational?… You call this RATIONAL, CVJ ???” , the Guys say….
Here is our Aussie that we began with earlier, and lets really drill down to the 5-Minute Time-Cycle… and see how the “positive” Numbers actually weakened our Risk-Averse Dollar strength…
Give the Capture a Click, and Post-Time is about 14:10 GMT.
Now.. our GalPal,friend, Gold…has also taken a turn here with some consolidating on the Hourly view… as well as some downside momentum on the 5-Minute view, as illustrated.
We will certainly continue on with these two with more “conventional” Techs…
I simply thought the “Dollar-In-Reverse Counter Intuition” would be interesting to observe here after a “positive” Data catalyst.
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