Thursday, September 27, 2012

The Market and Euro look similar-consolidating

Both the market averages and the Euro are both showing short term negative divergences which are likely along the lines of consolidation, however the slightly longer timeframes are still intact for more upside.

Euro
 Euro 1 min relative and leading negative divergence, looks to want to consolidate the quick gains.

Longer 3 min chart is unaffected though and still a positive environment for a bounce to continue once gains are consolidated.

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