The dollar was on the verge of collapse last Wednesday – and a late session break seemed to push the currency over the edge. However, this market-defining move proved more a reflection of liquidity than a meaningful revival of a long-term bear trend. Heading into the thin liquidity conditions that plagued the markets into the second half of last week, leave the skeleton crew with a scenario where the benchmark currency was on the verge of a massive breakout was deemed too dangerous; and a concerted effort was made to defuse the situation by forcing a break in the direction with the least resistance (or fundamental meaning) – a bearish break.
No comments:
Post a Comment