Wednesday, May 8, 2013

First Currencies

The EUR/USD and JPY/USD have allowed the market (well most, the IWM is lagging) to head higher off the open, the divergences in the pairs above that are market positive as they rise are all in deep negative divergences so I'd expect they come down very soon, they ran up right on the open, with them coming down, market support also falls off.

Here are some quick examples...
 EUR/USD looking even worse, but supported the market early on which I'd rather see early as the afternoon session tends to change.

EUR/JPY, a carry pair also with a deeper negative divergence.

So that's one of the bases of market strength, those should be starting to crumble, let me check the rest and also see if there are any quick opportunities here.

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