DX and EURUSD down!....Corrections in the Major Indexes ahead?
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