Monday, May 21, 2012

Euro Update

The Euro was a little touch and go today, but when in doubt, I stick with the longer trends that have less noise.

 The Euro 1 min saw some distribution just before it started to decline intraday 1 min, look at the leading positive / confirmation since...

 The 15 min chart went from a change in character to a full on 15 min leading positive divergence, something was up.

For comparison, here's the $USD 15 min leading negative, this is all very market positive in the near term, I of course remain bearish on the longer term.

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