Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia. He runs training, analysis and resource workshops for retail and professional financial market traders involved in stocks, CFDs, warrants, derivatives, futures and commodities in China, Malaysia, Singapore and Australia. He has his own trading company, guppytraders.com.
While the euro-dollar breakout looked like a short-term move rather than a trend change, the situation now is different and impacts long term positions.
With Nymex rebounding 40 percent since its lows of the year, many are asking if the uptrend will stay or whether if it is a short-term bounce.
The euro may have rebounded more than 6 percent from its lows of 1.05 against the U.S. dollar, but chart analysis shows that rally may be shortlived.
The Nasdaq's move above 5132 has sparked concerns that this would signal the end of an uptrend. But chart analysis suggests otherwise.
Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.