The range continues in the USDX and the EUR/USD which have been our primary focus as of late. We are trying to get a tell on which way the range will break and to this point several possibilities remain valid so continue to play both sides near the critical levels we discussed earlier this morning in the pre-European Overview and in the latest Intraday Video. Glancing at the market the EUR/USD looks to want to go higher so lets see if we can hold well below 1.4440 as expected. Its interesting to note that the metals we track here have fallen through all this turmoil and uncertainty. You would think it would be the opposite scenario, but as we counted last week we expected both XAU/USD and XAG/USD to fall correctively at the very least.
We still expect heightened volatility across most of the market so stay nimble and don’t fall in love with any position.
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