Bad news on US gdp for 2-nd quarter of 2012 that came on Tuesday (1.7 % growth was expected but it was just 1.3 %) stopped the raise of dollar. On Thursday markets were not giving reasons for sales, beat all the traders and there were signals of continuation of ascending trend on many tools. Yesterday there were indicators of changing the direction of movement.
Thus the turning candle formation with a hummer down was formed on AUDUSD pair, which means the end of correction.
A bull absorption was formed on EURUSD pair which is another signal for turning upwards.
There is similar situation on pound sterling against dollar. Only growth of pair GBPUSD is restricted by the resistance of 1.6300, which has to be overcome before the continuation of development.
If the dollar fell abruptly then the gold grew, coming back to upper bound of the diapason, which it broke down in the beginning of this week.
Tomorrow is Friday and it is not clear how the market will be behaving. The signals for purchase are received and there is a possibility to enter long positions in hope of continuous ascending trend. However it is not recommended to exclude Friday correction.Social button for Joomla