I was thinking the same going into the figures Broadway, assumed a bad figure would get massacred (considering this is the last area that still needs to be stabilized), but had information the figure would be better than expected, so I dumped a few contracts in there short after the figure and subsequent spike, but didn't get what I wanted, I wanted to see more selling pressure actually go down and hit the bid following the spike.
On the 60 minute, this is a perfect buy zone, hitting the top of the recent sideways zone on the retest (talking about S&P in all of this, but XAO relates pretty closely). Not to mention, the way the Euro tanked well and truly back through the top of that recent sideways zone, leads me to believe the correlation is shot. USD as a flight to safety has now left the radar. Will have to see how this plays out this wk, but it's what I will be looking for.
Shorts covered at the close for a 5 point loss, so not too bad considering. And got a USD long on.
Note: A USD long should perform better in various environments. If the correlation has broken down, and equities continue to rally, so should the USD. If however, this was just a shock but not enough to break it, and we do get a pullback in equities, the USD should rally. Of course, it could work the other way too (but this would fly in the face of the reason the correlation broke down in the first place), so I see it as less likely. A situation to keep very closely monitored. It's been said before countless times, but these are truly interesting and exciting times.