Tuesday, May 22, 2012

Euro Looks Like its Running Out of Downside Momentum

 Euro/FXE appears to be losing momentum to the downside...


 2 min chart is going positive

 3 min chart has held up very well

 5 min chart has held up well with some relative positives.

 And the 30 min chart is still flying, this is why I don't get worked up about intraday trade or even day to day when working with signals like these.

 The $USD/UUP is going negative, running out of upside steam

 2 min chart confirms

3 min chart also confirms with a leading negative and just to compare the long term view...

30 min $USD deeply leading negative.

This may be useful for those who may want to add some speculative longs (when I say speculative it means they are going against the primary underlying trend and as such, risk management should be a priority, my speculative positions are always much smaller and represent less risk).

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