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Greetings again, Everyone!
Accumulation and Consolidation continues on… as Price may begin to “slow” a bit overall and lose a bit of Momentum as we gradually head into the Memorial Day Weekend here in The States.
Macro-Corrections may be seen later in the Day..as Institutional Concerns look to close Dealing Desks early and move significant Profits Off Of the Table, although these Correction are not expected to be Extreme in nature.
As is normally the case… with such strong and solid Directionality… Institutions will leave Block Orders In Play and “Scale Out” following their own Risk Management Procedures.
As the European Session begins, we take another look at the Aussie and bring in the Euro Pound for a look at how the “Battle of The Channel” is doing of late… as we look to U.K. GDP in an hour which may boost or invalidate current Pound Momentum in the Unit.
Here are the Hourly Views, so give the Captures a Click for Brief Commentary.
Post-Time is 7:20 GMT.
The Consolidation/Accumulation Environment is just as prevalent on our Four Majors, so for additional Immediate-Term Detail, please have a look at the just-published “Currency Majors Technical Report”.
Stay Tuned for more Updates as we move throughout our Final Trading Day this week, and we await the Wise Words of Our Beloved Leader, Fed Chairman, Big Ben at 18:00 GMT !
