A Blog of Commentary and Ideas from an FXstreet Premium Member by 
Greetings again, Everyone!
We arrive at The Opening Bell of the NYSE, as The Dow and S&P 500 are in “Flat to Slightly Positive” Territory.
Short-Term Bond Yields continue to Rise and subsequently are increasingly Negative for Equities and The Dollar, as Rhetoric for increasing Interest Rates is floating around out there as well.
For our Needs in The Currency Markets… one thing is deeply Clear.
The Dollar is Out of Favor.
Period.
The Macros concerning The Majors… Inflationary concerns in Europe… the Political Turmoil in The U.K…. The Bleak Economy in Japan… are all really irrelevant at this Point from an Immediate-Term View.
Market Sentiment is simply Dollar Negative… so We simply Work with What We See.
Let’s check in on The Fiber and Cable… ( the Recovery in Crude Oil and Gold has provided Inter-Market Buoyancy to Dollar Weakness as well… )
Give The Captures a Click for Levels of Reference, and Post-Time is 14:40 GMT.
The Fiber looks ahead to Static Resistance at the 1.4000 for another Hourly “Re-Test” there… and in my personal View… Counter-Trend Positions will find some Difficulty here as One works against the Daily Uptrend.
Alternatively from the IntraDay View… if the Range of 1.38 to 1.40 Holds… any Counter-Trend Views may be Viable for working within the Area, as Range Traders and Faders enjoy these types of Environments that are Complimentary to their Work.
The Queen regains Bullish Momentum, as She continues to slam Her Arch-Enemy, The Euro!
On Her own… She pulls ahead through the “Transitive Rollover” at the 1.6200 Area, as Price accelerates out of our Ellipsed Area from yesterday… and looks to Clip the Upper Channel Trendline as well as meet the Weekly June Downleg 1.6340’s 61.8% Fib Variant Area.
Of Course and As Always… Be Mindful of Market Reversals… as Trend Correction is Attractive to Bullish Builds coming in with more Fuel for The Trends… as well as providing Opportunities for Counter-Trend Activities when Consolidation and Continuation is Seen.
As always… I will be back with you as we move along on a Day filled with Movement and Volatility for a Fine Climate for Us to Work Within!
