The European union kept unchanged as expected following last month's measures to stimulate the economy. CAC 40 bounced off 4407 where 21 is situated. It could be our new point of reference. Week before sellers managed to broke down accelerated trend, if they still want to keep control on price they should defend break down point 4500. After big run in 2013-14 years it may take a pause and pull back a bit deeper to 50 and macro close to 4300.
The US dollar gained against major currencies. The job report is for the U.S. dollar, and a headwind for gold . Dollar Index bounced off that is in tact since April 2014. Now we have green, reversal candle that can lead to something bigger if next week buyers will lift prices above previous high of that candle. US Dollar still under pressure below key moving averages. I will use my levels of and to measure price action.
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