Today there will only be a short update.
EUR/USD – Is back into the resistance area between 128.15 and 128.55. Overall I expect this resistance area to hold for a new decline towards strong support at 125.45. We have to observe the current consolidation for clues telling us, this is more than just a minor consolidation. If we break clearly above 128.55 we might be in for a bigger retracement towards the 131 area.
We do need a break below 127.10 to ease the upside pressure and a new decline towards 125.45.
The Vix-Index – Tested the ending diagonals resistance line, but couldn’t break it on its first go. I do expect a new test soon and if we break above the resistance line at on this test we can conclude, that we have seen the termination of the ending diagonal and a new rally towards at least 34.50 – 35.00 have begun.Dow Jones Industrial – Is hanging on to its gains, but I still think, that these lofty areas will be to much and we should soon see a break below 12,311 confirming that we have see a top and are on the way down towards 11,733 and 11,231 and the next supports.
Longer term I’m still looking for a test of the strong neckline support near 10,575.
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