Overall, since the day had started, most of the action concentrated during the Asian session, while the major pairs just consolidated during European trading hours. The same pattern was observed in the prior day of trading, on Thursday. The market’s resilience to move comes as the global drivers, the commodities and equities markets have only moved up and down around the break-even line. The only major pair that saw a strong European session was the pound, which dropped at a very strong pace. Dollar Index Technical View: TheLFB Member Charts 4 Hour Chart: Short. Main price points: 75.00. Looking for: Wave V) The index has reached new lows recently in a black wave a of a blue wave V) leg. Each leg of an ending diagonal is sub-divided by a three wave move, which means that another push into the lows will happen once the current corrective wave b will be done. The whole ending diagonal may then be completed somewhere around the 75.00 area, near the 76.4% retracement point shown on the lower weekly chart. This target will be valid so long as the market trades below the wave IV) 77.47 top. The euro (Eur/Usd 1.4730) lost approximately 80 pips during the Asian session, to test TheLFB S1 (1.4710). However, since then, the euro has failed to move anywhere importantly, and all it did was to trade in a 30-pip range. On the daily chart, the euro is trading close to the neutral line, while the trend read is pointing upwards. The pound (Gbp/Usd 1.5940) fell 130 pips, being the only pair that moved hard during the European session. With the declines seen today, the pound has shed every pip gained in Thursday trade. Since the beginning of the month, the pound moved in a 300-pip range, unable to break anywhere decisively. The aussie (Aud/Usd 0.9030) had a very small range during the overnight session, of approximately 40 pips slightly below the neutral pivot point (0.9020). Over the last period, the aussie was the strongest major pair after the RBA was the first major central bank to raise the interest rate. Last RBA’s rate hike cycle lasted 7 years. The cad (Usd/Cad 1.0540) had probably one of the slowest overnight trading sessions of the last few weeks, moving only 35 pips. On the daily chart, the cad is trading near the low of the current year, most likely, targeting parity with the dollar, in the 1.0000 region. The swissy (Usd/Chf 1.0310) is consolidating just below the 20-day moving average, after it advanced 40 pips throughout the Asian session. Over the last few days of trading, the 20-day moving average has been an important swing point for the swissy and may continue to be important in today’s intra-day session. The yen (Usd/Jpy 88.95) surged up to TheLFB S3 (89.25) even from the Asian session, and for a few moments, the market actually broke above this price point. However, the yen started to decline at a strong pace throughout the European session, recovering some of the gains seen earlier in the day.

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