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Our colleague Tim Salem has published a good article about Corrective Sentiment. Let’s have a look:
With Corrective Behavior across the Markets as we continue to “digest” the Geithner Plan and other “Rhetoric” that seems to be coming our way incessantly… perhaps we can drill down for some Technical Details with the EUR/USD and the NZD/USD for some clarity with our latest round of Risk Appetite.
Our “Four Travelers”, the Yen Crosses, hold significant Corrections on an IntraDay basis and have simply followed their “Cousins”, the Major Dollar Pairs.
Interestingly enough, the Majors have tended to hold “deeper” Pullbacks than their “Yen Cousins” in this environment.
Let’s take a look at the Hourly Views of these two… so give the Captures a Click and Post-Time is 3:15 GMT.
