A Blog of Commentary and Ideas from an FXstreet Premium Member by 
Greetings, Everyone, and Welcome to Sunday!
Happy Father’s Day to all of you out there who are Fathers, have Fathers, have Brothers who are Fathers, Friends and Colleagues who are Fathers, and every other Variation of the Theme!
A Special Father’s Day to very recent Fatherhood for my dear Friend and Primary Mentor of all these Years… Ed Ponsi, and his baby Daughter, Renee… as well as my good friend and Colleague here on The Blogroll, James Chen!… and his Daughter of about Two Weeks! 
We focus a bit briefly this morning ( 9:30 a.m. my time… so 16:30 GMT ), on my personal View that The Dollar will be somewhat of a “Leading Indicator” to open this Trading Week concerning The Commodities that Currency Traders focus on the most, Gold and Oil.
The Depreciation Drop in Price of Crude leaves The Dollar with a bit of Momentum Energy… as does the continued volatile IntraDay Consolidation with Gold.
As we mentioned yesterday… The FOMC Meeting this week may not hold any real surprises… and perhaps some basic “typical Rhetoric” on “Slight Improvement… Monitoring Interest Rates and Bond Flow…”, etc. will be what comes to the table.
Let’s take an IntraDay look at Gold and The July Crude Futures Contract which expires tomorrow ( on this particular Platform and Feed… ).
We can see the Deep Depreciation here as various Levels of Support and Resistance are both Clipped and Respected.
Gold sees a bit more “Noise” with Accumulation and Continuation in a rather narrow “Wedge-Like” Hourly Formation.
We will continue on with these Two as The Markets open in Sydney in a few hours, as well as check on some of The Majors as well!
I will see all of you in a few Hours, and enjoy the Day with your Fathers in Person and in Spirit!
