Markets don't go straight up or down, there's a clear bear flag here. We know they like to create false breakout, so a breakout to the upside would not be a surprise, it also would not cause me concern as they tend to fail and reverse back to where they were going
2 comments:
Brandt, the currency ETFs are as follows:
FXA Aussie Dollar
FXC Canadian Dollar
FXE Euro
FXY Japanese Yen
FXA is turning negative, short term though it's going to put up a bit of a fight, t should resolve to the downside.
Same for FXC, although it doesn't look like it will fight as hard short term.
FXE is also losing ground, it looks like it'll be up early tomorrow though.
FXY is more ambiguous. It leans toward the reversal, negative side, but not as clearly as the others.
Post a Comment