laurent53

laurent53 Updated 

The weekly chart of the Dax shows no signs (yet) of exhaustion. The pullback on the preceeding high has been neutralized by buyers who bought the change of polarity. A litle hammer is in formation and suggests some potential follow through next week. I see no evidence yet of a trend reversal. The medium term trend is up until proven otherwise. In our case, only a...

laurent53

That means that the reversal pattern is now in danger. The euro is otherwise petty strong vs. GBP and JPY so there is a possibility that the pattern will be soon negated. If the price breaks above the SSB and the top of the left shoulder @ 1.1878, then it will probably go to 1.20 and even beyond. I would not buy for the time being. The price is too close to...