$XEU – Daily, $Silver – Daily
The EURO looks like its making a double bottom here. Yep. Pretty sure. Check out the Positive Divergence to price on all the oscillators. The EURO should bounce here. That implies dollar weakness. If dollar weakness, then PM strength? This weary bug thinks so. How much of a bounce, if we get one, is unknown.
EDIT: A longer term bearish view of the EURO could have it build out a right shoulder here, the left shoulder being the failed SHS pattern (Aug, Sept, Oct) from last year.
$Silver is sitting on the support trend line sporting a small bullish hammer. Need confirmation, but we could have a bounce in $Silver. Could it break out of pattern top side? Don’t know.
GLTA