What has been happening recently, volatility, but is it sufficient for this to indicate a new direction, or simply ranging within the freedom given by a ranging EUR/USD ? I look at EUR/JPY as well, it gives a smoothing function of momentum direction, it is a little bit like the ADX, it gives the structure of momentum. There is indecision in its long term pattern.
Note the up in USD/JPY today, it hit one of the twin pillars of today's Dow surge: the recovery ! This will drive the next big move upwards, there does not seem to be many more ways to inflate, one assumes. I would keep an eye on EUR/USD 1 week, that could be a continuation pattern...
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