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Welcome to Tuesday, Everyone!
With Risk-Aversion surely looking to continue in the Immediate-Term… the Global Swine Flu Health Rhetoric was deeply digested in the markets Sunday and Monday.
As with most “Major Macro-Events”… once the Markets have them Identified and Processed”, if you will… Price often looks to lead its’ own way and find some semblance of Balance moving forward.
As with All Events, Data, Rhetoric, Criteria, what have you… Uni-Directionality does not continue Indefinitely.
We look now at the slight Consolidating and Easing Factors of most Units moving through the Asian-Pacific Sector and into our Day today… and what we are finding is Price Behavior and Sentiment looking to “Key and Relevant Levels” within the Units Themselves.
The ECB and Trichet have finally joined the Party with solid Rhetoric on Quantitative Easing in more of a direct manner, and the FOMC comes to the Table as well later in the week.
These two “Major Macro-Events” may keep Price Action somewhat In Check moving forward… although the Markets are surely loaded with Volatility as we have already observed.
We have started the week largely with the Euro, so let’s see where we are with it’s “Inverse Sibling”, USD/CHF… as well as checking in with The Queen and Aussie Yen as well.
Here are the Hourlies of The Swissy and The Queen, and the Daily of the Aussie Yen… as we find “potential” Levels of Retracement in working with these IntraDay Downtrends.
Give the Captures a Click for Commentary, and Post-Time is 3:10 GMT.
As always, please join me for the “Currency Majors Technical Perspective” Report @7:00 GMT in the “Technical Analysis Reports” Tab of the Technical Section!
We will also have plenty of Updates moving forward as we progress throughout our Day!
