Currencies-The Euro

This is part of the process of what I believe is a bottom we are putting in, like I said last night, the market may be a little too high for the big guys to accumulate here.

 FXE-Euro 1 min is in a negative divergence, suggesting the Euro will move down in the short term-today and the dollar will move up, a strong dollar is generally not good for equities.

However, when looking at the longer term 15 min hart, we can see that there has been accumulation as we have been seeing just about every day since the market fell recently. This is indicating a bigger picture in which the Euro rallies, the dollar goes down and the environment is positive for stocks.

This is all part of what I say is the process of a reversal.