Monday, October 3, 2011

Euro/Dollar

With what's coming out of Europe (and this is an extended news cycle, usually the Euro fears persist for 5 days and then take a back seat only to reemerge) its hard to see how the Euro could even manage a bounce, but much stranger things have happened. I love Goldman Sachs lowering their target on the Euro just a couple of, make that a month late.

In any case, I present it as it comes. And speaking of that, our favorite mass manipulator, the CME, just raised margin on copper and platinum, apparently some kind of political "gotcha" going on in Congress in their antagonizing of China over currency (the Senate just passed a China Currency bill by a wide margin on the vote), the CME action also being called a warning to silver and gold longs.

As for the Euro/Dollar

 FXE daily long signals, we have one developing today.

 FXE 15 min negative divergence and then down and now a 15 min positive divergence. Does someone know something we don't?

 The 3C depth chart on the 2 min scale has dropped to a very low reading, which has been seen in accumulation areas.

 UUP/$USD daily signals, a buy and a couple of sells, I'm really happy with the way this indicator has turned out. Anyway, we have a sell signal developing today.

 I tend to see the longer term charts give longer term signals so here's a 3 day chart, today would be th first sell signal on this timeframe since 2010.

 Long term UUP 60 min hart with positive and negative divergences, all produced moves in the anticipated direction and 60 min is a respectable timeframe, currently negative.

 UUP 1 min is leading negative, with such a nice move up the last few days, perhaps profits are being taken or perhaps again there's something we don't know about coming out soon.

 UUP 15 min hasn't confirmed the move up, unlike the earlier positive divergence in white when 3 moved up with UUP.

 Here's the 15 min 3C depth chart

And this really belongs at the top, but it is the new indicator on FXE, 1 day giving a buy signal, note the timeliness of the signals including the sell signal in orange.

Maybe something interesting is going on in the EU?

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