Tuesday, June 21, 2011
EUR/USD Divergence before Greece vote 6/21
previous post of what was happening shortly before Bernanke opened his mouth. Were seeing a slow grind up through resistance with ever building divergence (Seen in green). While we have broken through the top of the intermediate retracement channel in purple, we still are holding the 50% level of the larger retracement. Just to note, the indicator below the MACD on this chart is just a divergence indicator that allows me to quickly identify and scan charts, when either of the lines are below the 0 line divergence is starting to form (although in slow sideways markets it can mean nothing).