Friday, March 2, 2012

3/2/12 - Pre Market

DX
 The dollar is in a bullish falling wedge. Not sure if there will be a wave 4 and 5 down though since there is a positive MACD divergence and bull cross. Keep an eye on the trend line.

ES

I initially tracked the ES in a triangle but it now looks more like an ending diagonal. If it has one more push up to complete the 5th of this ED, this would correlate inversely with the dollar above.

EUR/USD
A bounce to 38% retracement and so far a reversal. A daily MACD bear cross in place too.
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