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EUR/USD Completes H&S Top Formation and Looks Ready For a BIG Move Lower
The Relative Rotation Graph above shows the rotation for the G10 currencies against the USD, which is the base (=benchmark) for this universe. Or, better, it shows nine of the G10 currencies against the USD. The general direction for this universe is pretty clear. The majority is moving inside the lagging quadrant and heading lower on the JdK RS-Ratio scale. The small move higher on the RS-Momentum axes is the impact of price movements so far this week. But, as you know, the last observation on a weekly RRG is fluid until Friday's close, so things can still change in the remaining three days. The general message that ... (full story)