What Charts Say About European Debt Crisis

We have a pending news driven event out of the EU this weekend or maybe just more extend and pretend. So expect a lot of rumbles into it and of course misinformation and rumors too. What is going to happen is going to happen. We have no clue as to what though with the circus parade over there.

We will say this though, at All About Trends we are chartists first and foremost. That said take a look at the two charts below. One is the US dollar and the other the Euro.

Actually these two charts are classic All About Trends FIRST THRUST PATTERNS, one bullish one bearish.

What’s tricky is that in the past when the USD tended to take off stocks took it on the chin to the downside.

By the same token one look at the Euro shows that of a bearish pattern so you see there are some opposite correlations actually out there vs the all for one and one for all moves we’ve been seeing.