Foreign markets have made some headlines in recent months. The German Dax and French CAC 40 hit record levels toward the end of 2023. Those indexes are generally priced in local currency, and a rising dollar in 2023 led to relative underperformance among US-traded ETFs. The US Dollar Index (DXY) has consolidated around the key 104 level lately. Amid this FX...
Such a thought provoking chart. Monthly log scale and chart is forming a symmetrical wedge. There are so many scenarios at play right now that either push Europe into a breakout economy or into a turmoil. No specific trade here or anything. Current chart looks like it will be harder to go much lower here but we'll see.
smooth pattern forming here. lets get a weekly lower low now $VGK
nice triangle set up here for the euro, consolidating along a relative support line. waiting for the upward or downward break out.
Successfully retested 10 week MA, bounced up nicely from there this week. Good: RSI and MACD all healthy. 10 week MA trending up, price well above 10 week MA. Less good: still in the box. RSI and MACD weakened a little bit.
This week's down turn was not that surprise (given the RSI channel resistance and 40 week MA resistance). Overall trend is still up (judging by 10 week MA, RSI channel direction, and a positive MACD, also the upward blue trend line). I will start to worry if it loses 10 week MA and falls out of the RSI channel.
double bottomed and now breaks out, also closed above 1o week MA. RSI breaks out and MACD positive.