Like nervous students awaiting their end of year exams, so the major US indices are all approaching new high ground with equal trepitation, with the ES emini (SPY, quote) a classic example of the tension that is now building on the daily chart.
Whilst many commodities reacted strongly to the US employment data on Friday, with a consequent surge higher on US dollar weakness,
The EURUSD pair failed to move again during the day on Tuesday, as we are simply grinding sideways.
The AUDUSD pair broke higher during the day on Tuesday, as we have cleared the 0.74 level.
China’s central bank on Monday pumped more money into the market to ease a liquidity strain.
GBPUSD moved sideways in a trading range between 1.4332 and 1.4769.
Being contained by the bottom of the upward price channel on daily chart, EURUSD rebounded from 1.1097,
AUDUSD remains in downtrend from 0.7834, the rise from 0.7144 is likely correction of the downtrend.
The EURUSD pair initially fell during the course of the session on Wednesday, but then turn right back around as the Euro gained in general.
The AUDUSD pair initially went much higher during the course of the day on Wednesday, reaching all the way to the 0.73 handle.
