Welcome back after a surprisingly calm weekend. The fact that the weekend was uneventful is the main reason why we’re currently in “risk on” mode on the market. The weekend was uneventful with regards to North Korea, but also to Hurricane Irma, which caused less damage than expected, receiving a positive reception from traders.
World stocks are at all-time highs and the German DAX is also heading higher. It looks like the correction has ended, and after breaking 12300 points, we’re back in bull mode once again.
EURGBP used the improved CPI data from the UK to go lower, but bullish troubles started here much earlier; on Friday, when the price confirmed the false breakout pattern. This is usually a warm invitation for a strong drop.
USDPLN has finally found a good place to start a bullish correction after a year-long downswing. That place is the 3.51 mark, which has the potential to start a new bullish wave.