25th October - The Euro bears take charge
26 October 2015
TECHNICALS:
Dollar Euro monthly continuation chart
He push down through the lows at 1.1875 and 1.2040 created formidable over head resistance, but though the market rallied, it never had the strength to really get up adn test it.
In fact all that was created was a bear flag.
On the long term chart, the only support of consequence is parity.
Note that there is coincident support there from (1) the lower diagonal of the rising channel and (2) the rising lower boundary of a larger rising channel.
Dollar Euro daily chart
Closer inspection shows the pause from march this year to indeed be a parallel flag – which has now completed.
Note well the double breakdown:
First the smash beneath the Low at 1.1086 and second the lower boundary of the flag.
In charts co-incidents are always important.
The Euro bears are in charge.
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16th October - How strong are stocks?