AU:
Some of the pairs, like CHFUSD AND JPYUSD, did not do much of a "wrong way fake" upon the US release at 8am EST. AU was not one of them. Like EU and GU, AU made a humongous head fake.
Only, the AU head fake came AFTER first a very wide whipsaw!
Yep, WHIPSAW, HUMONGOUS HEAD FAKE, and now the price is right back where it started from!
Conclusion? Heck, who knows? I don't. But, if a lot of professional trading outfits were long, and were looking for an opportunity to sell those longs off and go short, they just had a great opportunity to do that on EU, GU, AU, etc. Of others that were already short with SLs tight in, they got taken out. This enabled the profs to close their longs. Look at volume for any of these pairs and you will find these moves against dollar strength were on huge activity.
.......the FINAL switch over move by the profs?
Some of the pairs, like CHFUSD AND JPYUSD, did not do much of a "wrong way fake" upon the US release at 8am EST. AU was not one of them. Like EU and GU, AU made a humongous head fake.
Only, the AU head fake came AFTER first a very wide whipsaw!
Yep, WHIPSAW, HUMONGOUS HEAD FAKE, and now the price is right back where it started from!
Conclusion? Heck, who knows? I don't. But, if a lot of professional trading outfits were long, and were looking for an opportunity to sell those longs off and go short, they just had a great opportunity to do that on EU, GU, AU, etc. Of others that were already short with SLs tight in, they got taken out. This enabled the profs to close their longs. Look at volume for any of these pairs and you will find these moves against dollar strength were on huge activity.
.......the FINAL switch over move by the profs?