TradingView
claydoctor
Aug 15, 2015 1:21 PM

EURUSD CLOSE UP TODAY 

EURO / U.S. DOLLARICE

Description

And a close up today of that pair. The triangle at 72% would be 329 days if we agree the completion of the triangle would take 458 days. The 50/200 day ma is about to have a golden cross, bull trend commencement, and since the bottom of the EURUSD pair, where the markets should have headed down, they have been consolidating. As in 2000, the dollar strength has continued, to unhealthy levels, again, which will have an ugly effect on 3rd quarter earnings. But the difference is the markets consolidation this time, and the stock buy backs which have artificially inflated prices, and there is no doubt engineered financials (false), which we will only see are false in hind sight after the correction/crash. This consolidation has only delayed the inevitable, and lengthened the VIX base (see former charts), which will only enhance the magnitude of the market correction, regardless of the final catalyst that sets this off. The spx500 has touched its 200 day ma 5 times now since the big V last October (which we also had in 2000), and the next time may be the difference breaking down, where some are saying that 5th touch supports upward from here. IMO. Bottom line, dollar could go up from here, oil continues lower as a result (or is it the other way around?) eurusd pair could continue to stay in the triangle, The S&P could break its 200 day ma (like all the other indexs have) because at some point the combo platter of oil lower dollar higher will break the back of the SPX500, and never look back.
More