Euro Currency Index (EXY) will lose its power in future!!!Euro Currency Index seems that it will lose some power against other currencies during next weeks.
April and May will be very important for EXY.
Technical Analysis details:
-I observed a divergence on weekly chart which can start a new bearish trend.
-Stoch gives some bearish signals for future.
-Wave Trend Analysis gives some signals that we are at the top of weekly trend.
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Berk
EXY
EXY Bearish MomentumAfter a clear Head and Shoulders breakout, the price is coming back to the previous support now converted in a resistance. The expectation is to push the price in order to find new Low Lows.
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EURUSD LONG, DXY fails, EXY continuesEURUSD is in difficult territory though I start to become more bullish. Reasons why:
Dollar index:
Chart: broke structure, it may show a reversal pattern (H&S) so no confirmation yet both bullish or bearish, nevertheless, it is still below structure so that is bearish.
Fundamentals: USA tends to surpluses, reduce spending, all bad for economy so usd lower?
EUR index:
Chart: still in short term 5 wave and no clear reversal signs close to resistance levels. Short term bullish.
Fundamentals: brexit uncertainty remains, though political environment improves. Tend to deficits again and monetairy policy is reducing so all slightly more bullish.
EUR/USD:
Chart: F-flag forming. moving higher in F flag.
EXY EURO INDEX BULLISHSeems like a Inv.HnS in the Index.
DXY seems like retesting a descending triangle formation with limited upside and big divergence in the RSI.
Both premises together make me deduct a probable strenghtening of the EURO.
Also, French elections + Eurostocks sentiment are good.
We can ride this uptrend while it lasts.