IS euro telling the FUTURE of the Market? $6EM
Looking at the Euro Futures, looks like the market is battling its impact on the market. The more it drops the more the market drops. I am looking that this testing some levels to end the week in a direction.
What looks like a bear flag is starting to look over extended. We are at what could be a pivot point on the next quarter direction.
Bullish Case - Look we have already above the 50EMA and we are holding that so at best it could retest. DOUBT IT. We above the 0 line on the CCA Swing. Since this is a consolidation zone I am looking for it to do it again as the market builds their position to explode to the upside.
Bear Case - Lets be serious, why would a lower high have any upside left? We already broke the uptrend that started mid March so why chase. The 50 and the 200 has not cross for a while. TIME TO GO... Bearish below 1.087 makes sense. With enough strength we can test the 200 EMA again then fall.
What looks like a bear flag is starting to look over extended. We are at what could be a pivot point on the next quarter direction.
Bullish Case - Look we have already above the 50EMA and we are holding that so at best it could retest. DOUBT IT. We above the 0 line on the CCA Swing. Since this is a consolidation zone I am looking for it to do it again as the market builds their position to explode to the upside.
Bear Case - Lets be serious, why would a lower high have any upside left? We already broke the uptrend that started mid March so why chase. The 50 and the 200 has not cross for a while. TIME TO GO... Bearish below 1.087 makes sense. With enough strength we can test the 200 EMA again then fall.
Sometime you have to take a step back to make a better step forward.
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