A. When it’s a sideways move.
The euro shown the least indication that the March 17 reversal was anything more than a pause in a sustained trend. The chart below shows the ascending triangle that has formed in the euro since March 17. The euro has spent it’s consolidation period going sideways instead of down. This is an indication of the intensisty of the long-term uptrend. We have to watch for the possibility that the next up move in the euro will be even stronger than any seen yet.
The chart below shows the range-bust reversal bar (red and white) that is forming today. That is an indication that “the down move that never went down” is over. Look out above!
click chart to enlarge
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