Chicken or the Egg? How about the Dog wagging its Tail? (But first: What is the Dog and what is the Tail?)
Currencies are pretty powerful asset classes. From a performance-only perspective, many seem to be disappointed by the weakness of the Euro over the past 6-8 months.
Is one of the leading disappointments "turning tail" and driving in a different direction?
The Euro looks to have made a bullish falling wedge and is breaking to the upside. If this is true, the Euro is in the driver's seat, which should have a positive impact on hard-hit commodities and stocks.
This is a follow up on the Thermal Inversion of June 14th and the more recent Euro Flight Path. The question of what asset is driving the world's markets is something I will continue to focus on in future charts.
