Price is right back at that Flag Pattern, which is aligned with
Weekly R4 today around 1,1350. S&P is close to its major
support, as well as the dollar index. There is a clear risk of
a bounce from these levels on different markets. But if we
see a failure, and break out, this may spur a sell off in stocks
and a rally in EurUsd and other related currency pairs.
Keep a close eye on these levels and how the day will close.
A break out should be a strong candle piercing throgh that
that channel floor.which will open up for 1.15 and above 1.18
(1.17 is the Aug high).
Weekly R4 today around 1,1350. S&P is close to its major
support, as well as the dollar index. There is a clear risk of
a bounce from these levels on different markets. But if we
see a failure, and break out, this may spur a sell off in stocks
and a rally in EurUsd and other related currency pairs.
Keep a close eye on these levels and how the day will close.
A break out should be a strong candle piercing throgh that
that channel floor.which will open up for 1.15 and above 1.18
(1.17 is the Aug high).