EURUSD tagged our 1.1273 target overnight. It came a little earlier than expected, but it’s a significant development given the pair’s correlation with stocks.continued for members…An expanded view of the pair shows this is also a backtest of the broken white channel – suggesting that the next major move is lower.

Stocks have also reached a key .786 Fib level, suggesting that the bearish currency signal is valid.

Note that VIX is riding a series of higher lows…

…even though it is still in a major breakdown from that long term red TL.

CL is on board for a decline… …though RB is still “broken out.”TNX is still below the red TL, but the SMA200 should provide support, particularly as YoY gas prices and wheat prices rev up inflation again.

I have to skip out for a conference call, will post later today if possible.