EUR/USD

It looks like the Euro is near a short term decline and the dollar a short term bump up.

 FXE (EURO ETF) in a nasty 1 min leading negative divergence

 Even the 5 min chart failed to confirm the gap up.

 UUP (Dollar Trust ETF) is positive and leading on the 1 min.

There's also a positive relative divergence in UUP on the 5 min 3C chart.

Correlations between the dollar and the typical inverse correlated assets have not been as strong recently as they were in months and years past, but a move up in the dollar certainly does have the capability of putting pressure on equities, commodities and of course precious metals.

As of now, GLD still hasn't been able to push through that gap resistance I showed you earlier in the GLD/gold update.