The question is how much relief will casino patrons experience? Euro had probably better exceed this initial resistance level and get on with a 38% retrace to strong resistance for players to start feeling okay about themselves again.Gold will be weak... Uncle Buck will get hammered (as will gold in euro's for that matter) if this rebound means any kind of business. The sentiment backdrop is all lined up and now it appears the pig has stated a strong intention to behave for a while.
Too much fear and angst could use a reset here. If euro follows the minor daily MACD bullish divergence (weekly is a mess) through resistance and STO breaks above 20, the bulls could get obnoxious once again; which is of course exactly how I like them. I am uncomfortable in a bearish view when they are really scared.
