Thursday, May 31, 2012

$USD is the tell?

Today is one of those days when you have to look everywhere to get an edge. The intermediate term direction is already strong on the charts, it now becomes a matter of timing and with head fakes going on, it would seem the timing is right upon us; I would like to see strong signals confirming that (but everything comes on Wall Street's schedule). Any way, I've been paying a lot of attention to the Euro, but the Euro is just a side effect, the real currency that moves the market is the $USD, the Euro is just easier to use. Luckily the $USD is showing some decent signals.


 $USD 1 min

 $USD 2 min-3C momentum is really picking up.

 $USD 3 min, not only is momentum in 3C picking up, but the migration from short to longer charts looks good.

 The 5 min

And what I called above, "The Intermediate term direction" and the strength of that signal.

No comments: