Euro May Get Volatile

Earlier this morning I posted a chart of the EUR/USD in which the Euro saw a parabolic move up, those kids of moves are not my favorite if I'm bullish the Euro, they often end with a parabolic move down.

There are signs in the FXE that an at least short term (maybe more) topping process may have begun as the Euro loses it's momentum and starts to round.

 FXE-Euro Trust ETF 1 min chart in a leading negative divergence

FXE 5 min -another bad divergence

 UUP-early signs of a positive divergence

 Note UUP found support and 3C didn't follow price down, considered a positive divergence also

 UUP 15 min looking quite positive.

And support for UUP on heavy volume today. Note the big red volume spikes in UUP, each one was at an upside reversal point, we are o track for quite heavy volume today.

On a light economic news day, the FX markets are likely to influence the equities market more then usual.