Remember May 2008, moving averages trend higher, price crossed above weekly channel and the US Dollar was trending lower.
Then you know what happened next:
Are we now in a similar market?
Umh?, the US Dollar is already moving higher and different from 2008 this supposed retrace from a down trend completed its 13th week two weeks ago. 2008 retrace took 8 weeks.
So what is coming?
Maybe these relationships have some meaning, we’ll see in the following days.
By the way almost all European markets closed strong today.
Feliz año nuevo a todos,
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- Erick Stern
- I am a civil engineer who likes charts, to me, speculating in the markets is both a hobby and a second profession and in my view the stock market is the most honest environment, since it is only your knowledge and preparation that matters. I live, and work in the construction industry, in the Dominican Republic. I read and answer all my mail so please feel free to write email@example.com Thanks, Erick