07/09/2011

U.S. indexes closed on upside Tuesday turning the hourly trend up. Sell signal for the Euro.

No index manged to close the gaps Tuesday but the hourly trends turned up in most of the indexes so a close of the gaps might come Wednesday.

The medium and long trends are unchanged. Monthly and weekly trends are down. Daily trends are still difficult to  decide because of choppy trading with wild swings. This pattern is expected to last.

If there are no changes in trends and no important news I might leave the blog for a day or two.

The technical picture of  EURUSD finally seems to show the next big move. The currency pair has gone sideways for six months. There is now a weekly sell signal for the Euro against the dollar and the break can come quite soon on the downside, lasting for a long time and be dramatic. I will follow the EURUSD until the break starts.

No comments:

Post a Comment