Best Financial Markets Analysis Article We still await the next installment of the decline on FXE (124.73). At the moment it si doing a final test of Short-term trend resistance at 124.74 and the Head & Shoulders neckline in the same location. Cycle Bottom support is at 124.19, but the bounces at that level are over, IMO.

GLD (157.02) is attempting to extend beyond its normal Fibonacci range this morning, but still corrective. It doesn’t appear capable of retesting the neckline at 158.50, much less a major breakout.

SPY (132.45) has given back some of yesterday’s gains. Today is a pivot day for SPY, so we should see the decline get some traction after the open.

Good luck and good trading!

Tony

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