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EUR/USD and USD/CHF Look to Re-Position Soon on Corrective Sentiment

Posted on April 8, 2009 at 8:50 in Commentary, FXstreet Premium Thoughts by Tim Salem

 

Greetings again, Everyone!

We move through the European Session into the U.S. Markets with the NYSE Open.

The Dow and S&P a ever-so-slightly positive, as we come off the subtle Corrections of most Majors gaining a bit of strength, as well as the Yen Crosses in the previous hours. It will be interesting to see if our “2nd-Hour Reversals” in the Equities may allow some Pullbacks, and then possible “Pressure” again while we still digest the overnight Bearish Views ( concerning the Dollar and Yen Strength…).

( Gold and Crude Oil are “Caught” in tight Ranges on the Hourly IntraDay perspectives… so we may have a little “insight” into where the Dollar may lead us overall… as Oil simply cannot sustain Itself above the coveted $50.00 Handle lately… )

We bring back the Daily Views of the Euro and the Swissy… to get a “View” of this possible “Shift in Sentiment” moving forward towards the Price Action muted ”quietness”  as we move into the FOMC Minutes later today.

Remember… we do often see the “Institutional Re-Positioning” ahead of any major Rhetoric or Data Points, and this whole Central Bank Global View lately has been in need of Observance.

Here are the Dailies for a larger View, so give them a Click, as always.

Post-Time is now 13:50 right after the NYSE Open.

 

The Swissy is also in an “Appreciation” Mode…although we have Pressure arriving at the 1.1520’s Area to maintain the Bias.

  

 

EUR/USD is showing some Upside Bias as we come off of the InterSession Lows @ 1.3140’s, and look towards the 1.3300 Handle in the Near-Term.

 

 

 

 

I will certainly be back with you for the Hourly Views of Gold and Crude Oil ( as I promised from last night’s Post…),  after we “digest” the Oil Inventory Data Points and the U.S. Wholesale Inventories… right around 16:00 GMT!

:-)

 

 

 

Tags: channel. support, correlation, currency, EUR/USD, euro, Europe, gold, inventory, oil, resistance, swissy, Switzerland, USD/CHF

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