Greetings again to All!

We come off of the NYSE Close relatively “Flat” and Mixed in Sentiment ahead of The FOMC Meeting continuing into The Decisions and Rhetoric tomorrow.

“Around The World”…  most Majors sees Appreciation on the back of Higher Crude Oil on Its 1st Day of the August Contract as the Weak Dollar gives it a Boost as a “Leading Indicator”.

The Euro picks up on the Momentum… as The Swissy and The Loonie fall in Depreciation.

The Yen Crosses resume aspects of their larger Longer-Term Trends, and The Pacific Dollars move ahead as well… despite the somewhat “Tighter” Range of The Kiwi moving along in a Range of around .6380’s to the .6490’s or so…

Let’s have another look at The Kiwi from out Post earlier, and see the Clarity of this Range.

Here is The Hourly with Commentary above, as we prepare to head into The Asian-Pacific Sectors pretty soon.

Give The Capture a Click for Various Levels, and Post-Time is 21:10 GMT.

The Hourly View Price Behavior is developing a Clear Bull Flag/Pennant Formation that if Complete, sees a Projected Area of the .6550’s Area… which is the Exact Area of the Weekly 50% Fib Variant from the February 24th Downleg!

( The Joys of Fibonacci! … You have to love it… hee hee… Here is a Daily View to see the Projection… )

The Hourly sees the Formation quite clearly, and if we find Correction soon, Price may slip on through to the .3715 Area back down to the Daily Static Support Zones of .6300 and .6280’s for some “Re-Testing” Sentiment.

At this Point, any further Depreciation is considered Out of Favor in my personal View in the Near-Term ahead of The FOMC Decision.

I have developed a Special Section  under the Education Tab of the FXstreet Home Page!

The Section is caled ”Fundamental Forex Foundations”, which will be a Series of Topics focused on the Majors Data Points we see that directly “Affect” Currency Traders and those in the Foreign Exchange World.

The First Two Installments are there…  “The Federal Reserve and The FOMC Committee” … a timely Topic we are dealing with right now, and then  “The Non-Farm Payrolls Data”  released a bit early for NFP in a couple of weeks!

Please join me Soon!