13 thoughts on “CHART OF THE DAY”

    1. victor

      “oversold and has to bounce.” he is showing the fact not saying it’s going to bounce, are you offering something better…?
      Thank you Gary for all your work.

  3. gary Post author

    The euro appears to be entering the final panic phase. These usually last 5-7 days. The potential trigger would be on next weeks FOMC meeting. Possibly the Fed changes their statement to try to slow down the appreciation in the dollar. The gives the euro a 3-4 week bounce and then months and months of sideways trading.

    1. Virg

      But u said the same about the ECB meeting and now u say the FOMC meeting… and the $usd just keeps moving past your moving milestones.

      1. gary Post author

        After the “50 billion” leak on Wednesday I thought for sure it would be a buy the news event on the actual announcement.

        Not really sure why the euro kept falling as it has obviously priced in QE months ago.

    1. gary Post author

      I’m just sitting and watching gold at the moment. It’s late enough in the daily cycle that it could correct for 5-8 days. Or it could consolidate and give us another pop higher. It’s a coin flip.

  6. horatio alger

    The Euro is near the 61.8% entrancement of the entire move up from the 2001 low . Equality between the two ABC corrections from the 1.60 top targets round number 1,1. I would wait for a reversal bar (swing low) and take a long trade targeting 1.2 against the low of the swing low bar as my stop out area.

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