The bear market rally is doing its job and sucking people back into a bullish mindset. But the ending diagonals / rising wedges in Euro Stoxx and Gold are particularly dangerous patterns for bulls as they usually end in sharp down moves. Major IPO’s often signal general market tops and this is one sentiment factor to be aware of in the USA. AUD-USD is up against strong resistance, USD-TRY is testing the uptrend from 2010 whilst Bunds and Gilts have bullish structures.
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