A Blog of Commentary and Ideas from an FXstreet Premium Member by 
Greetings, Everyone and Welcome to “Central Bank” Thursday!
Obviously after the Massive Corrections seen… at least relative to IntraDay Views… We have reached “Re-Positioned Levels” ahead of the Bank of England and the European Central Bank Rate Decisions at 11:00 and 11:45 GMT, where both Entities hold Consensus to Hold Rates at 0.5% and 1.0%, respectively.
We also have On The Docket more Employment-Sector Data, with Initial and Continuing Jobless Claims as well as the Bank of Canada looking for a little Daylight with their Interest Rate Decision… despite Expectations of a Hold there as well.
Let’s take a “Tour” and check in with the AUD/USD, USD/CAD, Crude Oil, and USD/JPY.
This will give us a rather Comprehensive View of where The Dollar stands on “Both Sides of the Fence”…. ( Of Course… We know It is surely having difficulty standing at all!… hee heee… )
Give the Captures a Click for various Levels of Reference, as Commentary precedes The Captures.
Post-Time is 1:30 GMT.
The Commodity Currencies are “Basing” in Ranges of 70-80 Pips or so… as The Aussie finds Dynamic Support and Resistance right on Its Weekly 50% Fib Variant and the .8000 Figure of Round-Number Static Resistance… as we spoke of yesterday in an Update.
Oil continues Its “Basing” as well between the $65.50-$66.00 Levels, as The Loonie continues Its Dollar Rebound with a Bounce from Dynamic “Transitive Rollover” Support at the 1.1050’s Handle.
Our Levels were met on both Units, with clear Support and Resistance Levels seeing Contact and anchoring Price.
The Dollar Yen continues It “Push and Pull Battle” with The Dollar with Inversion… as during Climates of Risk Aversion, we look to see Who is the Strongest “In-Flight Safe Haven” Unit. In Risk Appetite Climates such as now, we look to determine Who is the Weakest to Counter with other Beta Units.
A Break of the 95.50’s Static Support sees a deeply potential return to the 95.00 Handle, as the 94.50’s to the High 93.80’s is certainly Probable with the Weight of Yen Correction against The Dollar.
Let’s observe how the Asian-Pacific Sectors handle the Activity, and please join me around 6:30/7:00 GMT for the “Currency Majors Technical Perspective” Report… to be followed by a Blog Update specifically concerning EUR/USD and GBP/USD as we prepare for the Interest rate Decisions.
I also invite you to please Join our FXstreet Advisor and my good friend, Valeria Bednarik, and Myself for the “BoE and ECB Interest Rates Decisions” Live Coverage beginning at 10:45 GMT !
Coverage will be on the FXstreet Home Page and Calendar, so have a look for Registration!
