EUR/USD - The break above resistance at 133.00 calls for a continuation towards 134.50 as long as support at 133.00 and more importantly 132.70 protects the downside. Any break below 132.70 will indicate, that a top is in place for a decline towards 129.75 area.
VIX Index - Is now back at the lower Bollinger support- band, as the close above the upper Bollinger resistance-band on February 15 indicated if also the mid-band was broken as it was just two days after. The big question now is whether support at 16.10 will protect the downside or we will reach for the next support at 14.60? I do prefer support at 16.10 to stay untouched, but we will need a break above 18.95 to confirm that.
Dow Jones Industrial - Continues to hoover just around the 13,000 key level. I do think time is finally running out and a big down-move will be seen soon, but to confirm that view we need a break below important short term support at 12,750.
Gold - Broke above resistance at 1,762 yesterday triggering a Inverted S/H/S bottom. We will find a new resistance just above at 1,809, which could turn us down again to form a second right shoulder, but for now we must accept, that the break above 1,762 has activated the S/H/S bottom for a possible move higher towards the 2,030 - 2,100 area.
Crude oil - Continues to push ahead for the next resistance at 114.85, but the potential for the Inverted S/H/S bottom is at 131.60.
Dow Jones Industrial - Continues to hoover just around the 13,000 key level. I do think time is finally running out and a big down-move will be seen soon, but to confirm that view we need a break below important short term support at 12,750.
Gold - Broke above resistance at 1,762 yesterday triggering a Inverted S/H/S bottom. We will find a new resistance just above at 1,809, which could turn us down again to form a second right shoulder, but for now we must accept, that the break above 1,762 has activated the S/H/S bottom for a possible move higher towards the 2,030 - 2,100 area.
Crude oil - Continues to push ahead for the next resistance at 114.85, but the potential for the Inverted S/H/S bottom is at 131.60. The form neckline resistance at 103.45 on acts as support.
The obvious caveat in this forecast is that the Euro is already 300 pips off of its lows, and the “easy part” of this pullback trade may already be over. In other words, the Euro rally could slow down and we could see sideways trade until further notice, limiting the appeal of fresh Euro/US Dollar long positions.sell structured settlement
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