So the market's upset about no more easing. whatev.

I don't see anything that would change my mind about the uptrend in equities. I am upset that the Dow didn't even give me a correction lower to the 20 period SMA close. (How's that for a shallow correction??)

The U. S. Dollar Index rally from a 78.12 low shows that there's still buying support just above the major psychological level however I'm more interested in just how long the rally can sustain support above the 78.43 to 78.50 area.

The end-of-day U. S. Dollar Index is still bearish as prices continue to trade below the 20 period SMA close and the chart is arguable in a shallow downtrend that has not yet established itself, making corrections like today's potentially more trouble for the bears than if the trend were established.

The move in the U. S. Dollar Index is not done and for that reason EUR/USD entries will be taken on the short-term time frames like the 15-minute chart which is still in a "four to six o'clock" downtrend. The intraday trend should be respected until the downtrend begins to show signs on fatigue. In which case, the 15-minute is equally adroit at triggering a Wave Reversal long entry if the pair can rally through the 34 period EMA high.

The 15-minute EUR/USD will trigger swing shorts between the 20 period SMA close and 34 period EMA low as long as the intraday trend is down.

Forex Analysis by Raghee Horner at ForexPros. com