A Blog of Commentary and Ideas from an FXstreet Premium Member by 
Happy Tuesday, Everyone!
We all pack our luggage and leave “Wick City” for now… where the “Roller-Coasters” were fun and without too much winding and twisting and turning… in fact… we may say we spent the majority of the day simply “Climbing Up and Down” in a Uni-Directional fashion!
EUR/USD and USD/CHF certainly behaved in this manner, as we followed these two all day yesterday.
They still provide fine examples of “Consolidative Resting” at Key Levels… where we may simply continue on with prior Price Behavior… or where we may see some Reversal Criteria on the way.
The Yen Crosses also provide some similiar Sentiment as well… with EUR/JPY looking to have the 135.00/30’s Area in View, and GBP/JPY looking ahead to regain and breach the 149.00 Handle in the Near-Term… where Price will need to remain and hold to continue Bullish Sentiment.
As with literally ALL Units at this point, Corrective Behavior may arrive soon with all of the over-extended Momentum.
From a Macro-View… we have Goldman-Sachs reporting $1.8 Billion in profit for the 1st Quarter and looking to pay back their TARP Capital, the Dow basically closing “Flat” today just above the 8000 Handle @ 8057.81 ( right on the 61.8% Downtrend Fib Level I illustrated on Saturday…), and finally the Currency Reserves in China growing by about 16% during the Quarter closing in on almost $2 Trillion.
No wonder why their elusive and enigmatic Finance Minister is concerned about their Treasury Inflows here in the States… ;-)
Now that we have some of our General Thoughts covered… let’s take a look at EUR/JPY and once again at the EUR/USD to see the similarities in both the Dollar and Yen Weakness.
Give the Captures a Click, and Post-Time is 2:00 GMT.
The Euro may see a “Bounce” out of the 1.3300 Handle of Congestive Behavior… or Failure may be seen here with the 1.3260’s to 1.3220’s in sight.
The Euro Yen took its’ Apreciation from the Hourly perspective out of the 61.8% Fib Variant… so another “Congestive” Area of “Rest” should be the 161.8% Variant where we are as of this writing.
We will certainly check on these Units moving forward during our first Update during the European Session as always, and in the Interim… I hope you will join me for the 7:00 GMT for the “Currency Majors Technical Perspective” Report in the “Technical Analysis Reports” Tab of the Technical Section..
