Last week the Power of the Pattern reflected that the Dollar and Euro were about to pull a “Turn Around” in prices and the reason for the strong rally in the 500 of late may have been assisted by the falling U.S. Dollar, see chart below (see post here)
CLICK ON CHART TO ENLARGE
The chart above reflected U.S. Dollar support and Euro resistance. Below is an update of those patterns.
CLICK ON CHART TO ENLARGE
Houston….A breakdown of the Euro from this bearish rising wedge and a breakout in the U.S. Dollar from this bullish falling wedge could well cause some pricing problems for risk assets.
