EURUSD long term chart

Monthly chart

So far the rally off the recent low doesn't "look" complete.  Not to say we don't have a couple of red candles, nothing goes up in a straight line, BUT the declining trend line resistance seems a reasonable HIGH target, (1.40) or lower target 1.34

Short term overbought, Long term still UP

The charts below are pretty self explanatory.
Short term DAX has gapped up, and has a tendency to fill the gaps.  So a fall to around 7300 may be on the cards, HOWEVER if the market stays above here, and works off the overbought condition, then it may launch higher, attacking resistance at 7450/7500.  

Range 7266 -7470 for a few days.

BUY the dips! 
The Weekly and Monthly charts show the declining resistance.

IF we get a sustained break out, DAX could see as high as the ALL TIME HIGHS @ 8100 (10 % higher from current levels)

DAX 2 hr chart

 DAX daily

DAX weekly

DAX monthly

Spanish housing market.

As an aside from following markets.

Spain's housing market is dis-jointed and haphazard.

Sign up and get the Central Government to act NOW!

Click on link below:

Petition for a transparent process for buying and selling in Spain.


The Central Government, Regional and local governments have turned a blind eye for 20-30 years while the "going was good" allowing people to buy homes that were not properly registered, with collusion of lawyers and notaries, BECAUSE they were all making MONEY, through taxes and commissions.

NOW that it has all gone pear shaped they want to penalise those homeowners who bout property in good faith by imposing fines, and even demolishing their homes.

WHO should really be paying for this??  Lawyers, corrupt politicians and corrupt local governments.

Summer ended..

Click prices for links to prior posts

Copper now at 371 
DAX 7350
FTSE 5800
Gold 1740
Silver 33.6


Where now?
DAX weekly

DAX approaching strong overhead and downtrend resistance.  Could be we get a brief push above, before a correction sets in.  However unless the trend changes that will be all it is .. a correction.

FTSE weekly

Also approaching resistance

Needs to break and hold above 5810, for test of 5870/5890

Formidable resistance around 5900.

IF the market can break higher obvious target is 6000

DAX/FTSE spread chart

When there is an uptrend can see that DAX outperforms FTSE.

Reasons? 

1, FTSE is quite heavily weighted with defensive stocks

2, DAX has only 30 stocks compared to FTSE 100, and many are cyclical risk on stocks.

However sometimes the spread widens too much.  For a relatively risk free trade sell DAX buy FTSE at these levels, possibly 200points, before uptrend resumes

When a prolonged market down turn occurs the tables are turned with the FTSE outperforming the DAX, in which case a spread trade can be held for longer