Hello Traders,
on the Chart on the upper graph you can see USDollarIndex. Below there is the EURUSD! At todays Intraday trading both Indexes reverses sharply from there Lows/Highs. This is maybe a first sign that the EUR advance is ending or nearly to do so. A first clear five Wave move to the downside will confirm this view.
If this is the case a multi week advance in DX is at forefront (EURUSD vice versa). This will bring the DOW and the Major US Indexes to a correction. As you can observe the DOW Transport failed to make new Highs as the DOW did. Also the NDX; RUT, KBW Bank Index failed too for example. This is a huge non-confirmation (following the DOW Theory) and often occurs at Major reversal...
We will see what the coming Days will bring, but with a VIX (CBOE) at low readings times of high volatility are still at the forefront now!
Have a gret weekend
rubennase
on the Chart on the upper graph you can see USDollarIndex. Below there is the EURUSD! At todays Intraday trading both Indexes reverses sharply from there Lows/Highs. This is maybe a first sign that the EUR advance is ending or nearly to do so. A first clear five Wave move to the downside will confirm this view.
If this is the case a multi week advance in DX is at forefront (EURUSD vice versa). This will bring the DOW and the Major US Indexes to a correction. As you can observe the DOW Transport failed to make new Highs as the DOW did. Also the NDX; RUT, KBW Bank Index failed too for example. This is a huge non-confirmation (following the DOW Theory) and often occurs at Major reversal...
We will see what the coming Days will bring, but with a VIX (CBOE) at low readings times of high volatility are still at the forefront now!
Have a gret weekend
rubennase