Greetings once again, Everyone!
With Negative Retail Sales Clipping The Queen to the Downside, and slightly “Better-Than-Expected” U.S. Jobless Claims, Leading indicators, and The Philly Fed… we still have The Dollar eclipsed by not being able to really take advantage of that Data.
This is due to a few general Factors that we have been seeing in my personal View… such as the subtle Appreciation in Oil and Gold, and especially The Continuing Claims fell and is assisting a bit of Risk Appetite returning to The Markets in general.
While Appreciation has been Seen at the Expense of The Dollar and The Yen, we may simply be defining “New” IntraDay Ranges here unless Exchange Rates can Hold and Continue above their Respective Resistance Levels moving forward.
We check in once again with The Aussie, and bring in The Euro Swissy from a long “Blog Vacation” as well.
( Our Communications Manager and Webinar Moderator, Maud Gilson, will be pleased with this Pair from “The Chocolate Wars” Posts a few months back…
Here are The Captures for Various Levels of Reference and Commentary above… so give the Captures a Click, as always.
Post-Time is 14:45 GMT.
The Aussie receives a “Snap of Support” in our Cluster-Area from yesterday’s Posts, as Price Clips the Dynamic .8000 Handle Resistance and attempts to move towards .8070’s Static Resistance in the Immediate-Term.
A Clearance of The Area with a Hold of “Transitive Rollover” Resistance-becoming-Support will complete a “Loose” Double Bottoming Formation from .7870’s Dynamic Support behaving with “Basing” Sentiment.
The EUR/CHF is riding the Direct Intervention of The Swiss National Bank as well as The Bank of International Settlements scooping up Euro Swissy after the SNB Meeting… as The SNB Itself seeks to Buy Swissy Bonds having a Direct Correlative Effect on clipping Swissy Strength against The Euro and The Dollar.
Price is prepared to Clip Static Resistance right at the 1.5120’s Area coming off of the Deep Beak with the Macro-Activity two Hours prior. Having the previous Momentum still “Built-In” to Price… Appreciation “north” to the 1.5220’s Resistance is possible… although a Visit back to previous 1.500’s Support is more ”Favorable” in the Immediate-Term.
Of course… Please join me for more Updates as we move along, and see if these “new” Range-Areas do, in fact, develop… or if we simply see Rejection or Resumption of the overall Macro-Trends!
I hope to See Everyone Soon!
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