With this rising momentum the Spanish matket is in line with the global rise. I see some mor space until the top.
The trend now is downward and the latest wave down has just been corrected by Fibonacci rules. o the trend may continue its way.
The has been built a temporare bottom and a retest of the previous April support is outstanding.
We see an overdone retracement down and a break below the rising support.
We met a faling resistance line now and are due to a correction down within a falling trend.
The price recovered impressively and has enough momentum now to test its high.
The GBP is coming back after the attempt to decline and we shall see a retest of the April highs at least I think.
The pound is rising without any break, i.e. the momentum is still unchanged. New highs may be expected.
It is a bit undecisive at moment but I think that the downtrend is clear enough to asume that it will continue.
The price is falling sharply and there is still enough room to enter a short position.
It looks jut like an ordinary Fibonacci retracement. I am trying another lng position now and will hold it if the day continues to rise.
The dollar seems to be weak against all major currencies. An exception is the rouble, but this not a major currency. :-) There is a bottom building below the euro and we see some upward pressure at moment. Thus I expect the euro rising above the recent range today.
At least we shall see a valid Fibonacci retracement.
The renewed rise and the close above the MA gives hope that the trend up can be continued now.
The second new higher close in arow after a new high after the sideward range indicates some rising potential.
The new high after the break through the MA is a good sign of a turnaround to the upside.
Indcators are turning down and MOMO had opened with a gap up on March 7th. This window will be closed now.