1.38 seems to be critical for the trend. the previous three highs result is negative momentum divergence. Moreover, the euro
failed to break out the previous 50% retracement
. Even though it is too ealry to judge the reversal, the whole chart gives me a feeling that we have in front of us a nice beutiful bull trap. euro
at the moment has negative corelation to the SP500
. that means that many institutions use futures
and option to hedge the correction. What if this corelation proves to be wrong?????? next week will be really intresting.....