Friday square up in full swing. Major currencies and Gold reverse quickly
New York (Nov 14) 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.
The USDJPY fell below channel trend line support and pushed to the 50% of the days move higher.
The GBPUSD moved below lower trend line support and shot higher.
The Gold broke above intraday resistance levels and surged higher.
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.