The yellow circles you see are areas where similar behavior is forming. In the GBPEUR the opposite behavior is forming to the downside. You can see this correlation is approaching a long time . Just as the EURUSD is approaching a long term .
Oil looks to correlate positively with the movement of the EURUSD . As it also moves in exaggeration to the XLE . Using specific points on the XLE as . Could I be on to something.....YESSSSS or Maybe I"m reaching...?
This can all simply be money moving back and forth. Most regular people like to sit in cash. There are times where this is good reasoning. Don't just sit in it. Swim in it till you are ready to strike and when you strike do it with the speed to the Millennium Falcon in hyperdrive.
Note: Might be a good idea to run some spreads on these instruments.
Should we be watching the EU and UK to know where we are going?