Friday square up in full swing. Major currencies and Gold reverse quickly

November 14, 2014

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.

Source:  ForexLive

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