AB - CD could be in play
Bear flag and wedge created
Broke below the wedge
Had a bearish engulfing day followed by another red candle today
Rejection off the 50% Fib retracement from High of 160.68 to low of 151.44
50 DMA cross below 100 DMA = Death Cross?
Support at 20 dma at 153.972
Support at January and May low (Double bottom there) at 151.44
Invalidated if:
- ECB came to the rescue and buy in hordes again
- will the ECB allow lower BOND prices and higher YIELD?
Possible scenario if this happen:
- Eur/Usd shoot to the sky
- Dollar index to fall
- No september Fed rate hike
- European stocks crashing with severe correction
Bear flag and wedge created
Broke below the wedge
Had a bearish engulfing day followed by another red candle today
Rejection off the 50% Fib retracement from High of 160.68 to low of 151.44
50 DMA cross below 100 DMA = Death Cross?
Support at 20 dma at 153.972
Support at January and May low (Double bottom there) at 151.44
Invalidated if:
- ECB came to the rescue and buy in hordes again
- will the ECB allow lower BOND prices and higher YIELD?
Possible scenario if this happen:
- Eur/Usd shoot to the sky
- Dollar index to fall
- No september Fed rate hike
- European stocks crashing with severe correction