There is a clear bearish flag pattern on Eur/USD at the moment - albeit a big one.
This is taking place on the monthly chart.
This suggests, not only is a dollar-index rally setting up, but the Euro is set to fall to parity with the USD.
Safe entries are about now-ish.
Stop loss at 1.23.
Aim to take profit at parity: 1.00
1. Bearish Doji Stars have been odcuring regularly on monthly before downturns. We have one forming presently right at the end of this month suggesting we've peaked.
2. Peaks of the market seem to follow fibonacci time zones. We're not on one now, but my suspicion is that a bull trap will form on the next one or that it will correlate to a dip or similar.
This demonstrates how a 120 / 20 Moving Average configuration can call short entry points against the S&P500.
The same config can also be used to call rally points.
Explanation on the chart.
Crossovers call changes of overall direction.
Outline of SPXU versus the S&P500 as a means to shorting the US equities market.
I fully believe that there will be a serious correction if not outright crash in the near future as many companies are trading with significantly inflated values relatives to their fundamentals and of course the general state of the world economy.
I have been...