Squawk Morning Briefing: Euro and Bonds

Yesterday we highlighted the importance of the Voodoo Treeline area for the Euro. Failing to break cleanly through that area would signal that the decline from recent highs was merely corrective, otherwise there would be potential for a larger decline. Wednesday’s action saw the currency find support at that area and it is now bouncing. Today’s video discusses how a turn down from current levels (1.3532 as we write) could keep the downside alive, but so far it appears to have failed to break the support Euro bears would need and, therefore, is leaving the decline looking corrective.

Meanwhile, today’s video for the 10-year treasuries also highlights what appears to be clear downside corrective action. As always, the full details are in the videos, but there are some things we can look at in other markets even when U. S. equities remain messy.

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Elliott Squawk delivers thorough market preparation every morning in time to take action during the trading day. By combining up-to-the-minute futures activity with traditional end-of-day analysis from cash indices, you receive analysis based on the latest conditions as the trading day sets to open. Each issue of Elliott Squawk goes beyond traditional Elliott Wave analysis because we recognize that trading Elliott Waves is much more than just looking at the most likely current count. Squawk will prepare traders to assess the market action as it unfolds by answering questions that any Elliott Wave trader should consider:

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