Update on the Dollar: July 24, 2012

There is significant negative divergence on the dollar on both a daily and weekly basis. DX is also very close to completing those harmonic patterns it hasn’t already completed. It’s approaching the .707 of the largest (yellow) pattern, tagged the 1.272 of the next largest (purple) pattern, tagged the 1.618 of the red pattern, nearing … continue reading →

Bet Your Bottom Dollar: Part Deux

UPDATE:  10:30 AM Last night’s call on the dollar was timely.  Check out the candle on the daily chart — the completion of both a Bat and Butterfly pattern. EURUSD also seems to have put in a bottom, though as mentioned earlier it’s going to take ein Akt des Bundestages (literally) to save the euro … continue reading →