Do they look-alike? I’m not talking about the Twins above, I am referring to the Euro and Brazil ETF (EWZ) below! The Brazil ETF seems to follow the twist and turns of the Euro very closely. Notice that the Euro seems to be in the driver’s seat, making tops and bottoms a little before Brazil.
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Suggested to pick up EWZ & EEM in the “Early Bird” post (see post here). Both have good short-term gains, just short of 10%. With the Euro close to the top of its falling channel resistance and creating a bearish rising wedge at (3), keep tight stops in play. Should the Euro break support and the Dollar break resistance, we will “harvest” these gains if the stop isn’t already triggered.
Don’t forget, that if the Euro does break support here, it will put DOWNWARD PRESSURE on STOCKS, BONDS and COMMODITIES!