Sunday, August 23, 2009

Dollar vs EURO - the simple and the stupid version

Euro is under distribution...(larger red volume bars)
Negative Divergence...
Wave 2 up of Impulse down?
Dollar volume is clearly accumulation...(larger green volume bars)
Positive Divergence...
Wave 2 down of Impulse up?
We will find out soon.

The question is whether this is wave 2 or an ending diagonal which would require a new low. 
If Euro fails to break out of recent highs then its an impulse wave otherwise its a diagonal.
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