In the last few minutes, there has been a Friday square up with the dollar moving back to the downside. This despite more favorable Univ of Michigan data.
The EURUSD has moved above the 38.2-50% retracement and shot higher.
EURUSD moves above the 1.24255 level and hits an air pocket.
The USDJPY fell below channel trend line support and pushed to the 50% of the days move higher.
USDJPY falls below trend line and tumbles lower. to the 50%
The GBPUSD moved below lower trend line support and shot higher.
GBPUSD broke lower trend line and bounced higher.
The Gold broke above intraday resistance levels and surged higher.
Gold takes off.
This is what I don’t like about Friday’s – the flows and liquidity can cause moves in both directions and create havoc in the market.
