Euro Update

Since ES is not open yet, all we have to go on is the Euro for now so here's an update from earlier today to the present.

 Here's this morning's example H&S in the Euro which drifted lower in to a 3C positive divergence

Scroll forward and that divergence/accumulation provided a boost to the Euro to test the same $1.30 area again, but now there's a negative divergence in the Euro suggesting downside, at least until Europe opens at 3 a.m. EDT.

So far Asian markets are up after being mixed yesterday, they are clearly following the Euro trend.

We shall see what has developed by morning, but $1.30 remains stubborn resistance. Don't forget Thursday will be an important debt auction in France, the one true debt metric that is not manipulated by ECB secondary market buying, things could get ugly on Thursday.