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Published on Oct 17, 2011
http://dailyfx.com/shome Risk appetite staged a remarkable advance this past week; but the lack of fundamentals and volume to support the move leaves us leery of how long the run will last. With notable bullish breakouts from the EURUSD, AUDUSD and other important risk-sensitive currency pairs; the counter-trend move has shown it can extend the drive as long as speculative uncertainty either holds or retreats. However, with Europe still in the cross hairs, Q3 earnings in the US heating up and interbank liquidity a constant concern; we need to be ready should the dominant trend reengage.