€$ 20 min

Here is a simple 20 min Ensign chart of Euro$. As i observed last week in my post on Friday price action was seen to change and somewhat reminded me of earlier this year when $CHF on 1st June began a similar pattern before it's rapid descent. I am not sure if this uptrend is over but i personally think we will see a correction. The Euro$ has made a double top and i will post a chart
( Metatrader) showing the reaction line that is bringing and will continue to bring price lower. Once through that RL it will remain to be seen what direction the market will take but then add into this equation the USDX and my previous blogs about the RL in the USDX chart. A reverse count to the June high (p0) from the corrective swing in August (p1-p2) gives us 43 days and thus going forward we have a reaction date for the USDX in about 8 trading days. We will wait and see but i will need so see price reverse back up through the RL before i take this too seriously. A final point is that in E-Signal all my reaction lines are drawn/measured by hand so the degree of error is greater than in programs such as Ensign & Metatrader (where we have either automatically drawn RL's or a Custom Indicator to draw them) especially in large TF's like daily charts and especially with E-signals poor pitchfork tool.