FX:EURUSD Euro Fx/U.S. Dollar
That is what you get when you try catching a falling knife. You get cut and bleed a little. Last time the buy the dip OIL bulls got caught long, we had a big "V" in SPY . I think it is happening now again, and we "V" again in SPY , and if we get any rising rates talk next week at the FED mtg , this V could get elongated, maybe more. The EURUSD is just not done yet. Not calling a bottom for sure, but it is dragging down OIL with it, not doubt about that. Just not sure if USDJPY follows or goes inverse. Usually always inverse, and at "A" of the ABCD structures, USDJPY and EURUSD may become correlated, just a bit confused right now on that result, and other factors effecting that relationship.