As it was expected, formation of a symmetrical triangle pattern embodied anticipation of release of the American data on Friday. As the actual results beat expectations, bears managed to strengthen the buck against the yellow metal by 0.84% just in one hour. There is a need to notice two things. First, a rebound near the 1,266.00 mark can be interpreted as a second reaction low a previously undetected junior ascending channel. This assumption implies gradual movement in the northern direction. However, in short term this recovery looks doubtful due to combined resistance that is forming from the weekly PP at 1,273.35 and the falling 55-, 100- and 200-hour SMAs. There is also a need to take into account an existence of a slope that consists of Sep 7, Oct 15 and Nov 2 maximums.
