- The Euro plunge as a result of a LESS hawkish tone from J C Trichet in his delivery after it's Monetary Policy Meeting.
- Another increase (the fourth) in Margin requirement for Silver triggered the plunge dragging precious metals lower.
- Jump in inital jobless claim ( indicating lower global demand) ...
At time of writing,
the Aussie dollar fell from this week high of 1.10104 to 1.06,
The Euro from 1.4939 to 1.4562.
Similarly, commodities like Gold from US$ 1576 to US$ 1476,
Crude Oil from US$ 114.80 to 100.50.
(Technically, there is a Head and Shoulder formation in the ALL of the above Daily charts!)
As a result, the USD Index rose from a Year 2011 low of 72.86 to 74.20
(Technically, there is an INVERSE Head and Shoulder formation in the above Daily charts!)
The SURPRISE came when