Smells like sell the factored market expectation and then buy when the valuation becomes attractive. Ran out of sellers on the bad news so dip bulls come charging in.
It so happened I was watching the USDCHF last night before the US unemployment claims (bad number) then 1.5hrs later the Pending home sales. Buyers of USD came charging in before the first number signifying they expect good unemployment number. It wasn't so they USD buying halted until the Pending housing which was a very good number, Usd massive selloff.
Again total opposite with that Us gdp figure. You expect buying of USD selling of gold but the direct opposite. You reckon the smart money have factored good figures hence the run up of USD strength past 3 days and now profit taking from the news? It is Friday!
