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Re: Euro/At Resistance Again/Artie *LINK*
In Response To: Re: Euro/At Resistance Again ()

I don't see any Inverse H&S, but if you look for them you'll find them everywhere. This two year trend in DX is a bullish Ascending Triangle with the higher lows and same top at the 84 'area'. Price has already twice cleared this resistance area taking out much resistance. One more punch through and price should soar to perhaps 89 which is a dramatic rally for DX and has major consequences for related markets. But meanwhile you must watch the Euro's major support of 126-127 that I mentioned some time ago. It's chart is a bearish Descending Triangle with multiple tests of support & the next time down will likely breakdown. A test of support multiple times means price rallies off that support have failed to hold each time and the price support area is constantly being tested. And like jumping up and down on a plank will cause it to break, so will support levels that continue to be tested after failed rallies. But meanwhile "Support is Support" with the Euro and "Resistance is Resistance" with DX. It's about that simple really. And there are dramatic consequences for dollar related markets unfortunately. Would be nice if DX was fixed and one could simply deal with the commodities and related investments for what they are. Meanwhile tracking the fundamentals of investments is the popular method of investing but what will determine much of the price direction most of the time is the price action of DX that seems to often be ignored as a major factor. Nothing like the DX wild card volatility to XXXX things up.....................

Messages In This Thread

Euro/At Resistance Again *LINK*
Re: Euro/At Resistance Again
Re: Euro/At Resistance Again/Artie *LINK*
Re: Euro/At Resistance Again/Artie