Greetings, Everyone and Welcome to Thursday!
Our overall “normal” Correlations are “Back In Check” concerning The Dollar and The Yen Currencies.
The Equities and Dow are back in “Inversion” with The Dollar… Gold and Oil are as well… and with The Fed buying Bonds… Repatriation of the Dollar is out of the Safe-Haven Risk-Averse Status we have seen for quite a while now…
We can count many Instances in the past where we may have seen “Poor” U.S. Data actually Rally the Dollar and Yen and provide them with Strength and that “Counter-Intuition” I speak of all the time.
With Wednesday’s Fed Rhetoric and Actions… we find a “curious” Stance:
Should the Dollar and Yen have not rallied again on the “Dovish” and “Bewildering” nature of Geithner’s Commentary?… and the “Uncertainty” of the FOMC Minutes?
So… What do we have then?… Counter-”Counter-Intuition”??? …hee hee hee…
As we have seen in our previous Blog Posts, The Loonie, Aussie, and The Queen simply clipped any Sentiment The Dollar may have been aiming for… with the most significant losses of the Year !
As we spoke of as well… most Units are approaching Major Levels of Support and Resistance so we “should” see some Accumulation leading into Consolidation… as Price looks to “Rest” and continue on Its Trending Paths.
We check in with The Fiber and Gold as Illustrations of these Ideas… so here are the Hourly Views of each.
Give the Captures a Click for Commentary, and Post-Time is 1:00 GMT.
Please join me, as always, for the “Currency Majors Technical Perspective” Report around 7:00 GMT… followed by a Blog Update, as the Asian-Pacific Sectors will surely pick up on Wednesday’s Price Action leading into the London and European Markets!
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