Greetings, Everyone and Welcome to Wednesday!
The Major data Points of the Week now begin to transpire… and with the Deep Appreciation in most Units… as well as Deep Depreciation in The Dollar and Yen… These “Catalysts” of Data Points and Interest Rate Decisions will surely factor in to any “developing” Dollar and Yen Corrections as we move ahead.
The extensive Risk Appetite with the Pacific Dollars, Fiber, and The Queen are already beginning to “Temper” a bit as we are now seeing various degrees of Accumulation in Ranges from the IntraDay Views.
Despite all the Media “Rhetoric” of Green Shoots, positive Consumer Sentiment, and Surprising Housing Data… It Is… and Shall Be… Macro-Housing and Deep Employment Improvement that will be needed to emerge from the Crisis in which we all work within.
The ADP looks to -530K from -491K from last Month… and Non-Farm Payrolls has a Consensus of -530K from -539K last Month.
I do not know about You, but nothing there says “Green” to me…
It just says, “Shoot!… Another difficult Month for U.S. Employment…”
Seriously… my “Green Shoots” Analogy aside… the Prospect of 9.0% to 9.2% Unemployment is nothing to have a Party about… and the continual Rhetoric of a New Global Reserve Currency surely is not helping our Embattled Friend, The Dollar.
We check in ahead of the Asian Session here with The Pacific Dollars… as various Levels and Areas are Clear for potential “Points of Stress” Reversals.
Here are the Hourly Views of the Aussie and The Kiwi… and then we bring in the “Main” Yen Cross, Euro Yen for a visit with the newly-revived Euro and The Yen.
Give the Captures a Click, and Commentary precedes each Capture.
Post-Time is 23:40 GMT.
The AUD/USD may see a “Potentially Shallow” Correction…considering Its deeply Bullish Momentum lately on the back of the entire Commodities Metals Complex, and the RBA holding Rates at 3.00%.
The Brief Breach of the .8200 Handle has High-Probability to see a “Re-Test” of the .8323 High without Incident… as more Appreciation is seen in the Mid-Term as we look out a few weeks primarily driven by Macro-Dollar Weakness.
From the Immediate-Term, We still hold our Corrective Areas in the Elipses as Area of Magnetism… starting with the .8000 Figure.
NZD/USD sees A “Transitive Rollover” from Resistance to Support that is not Clear at this point… as a Resumption back into the L.R. Channel is favored in the Immediate-Term.
Clearance of the Channel Mid-Line exposes the Fib Variant Cluster at the Weekly 38.2% .6150’s Area.
The EUR/JPY sees a Breach of the Macro-Weekly Triangle/Flag Formation, and in the Immediate-Term concerning the Asian-Pacific Sectors, looks for probable 138.00 Contact.
Price holds this Upper-Triangle Trend Line, as the Static 137.45 Resistance looks to Test again from the Hourly Perspective.
As always, please join me for the 7:00 GMT “Currency Majors Technical Perspective” Report in a few hours, to be followed by a Blog Update as we move into the European Session.
I enjoy doing the 7:00 GMT Report and I hope it is beneficial, so I extend an Open Invitation for Thoughts and Commentary.
Please Join Me Soon!
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