Time to Let Your College Kids Study Abroad

The Euro looks to only be getting cheaper versus the U.S. Dollar, which has been a thesis we have been tracking for a good while now. 

As with most theses in the current market regime, it has taken a good while to play out, with head-fakes galore casting doubt frequently. 

Nonetheless, on the updated Euro/Dollar daily timeframe, below, the massive bear pennant (light blue lines) gave way lower after several vicious fake-outs higher. Moreover, a bear flag (purple lines) looks to now have given way this week, especially after Mario Draghi's comments yesterday only reinforced his all-you-can-eat-pasta approach to monetary policy, and hence the weakening of the Euro Zone currency. 

We continue to play along with the bear thesis for Members, opportunistically looking to add if the trade can survive Friday's jobs report well. It may be time to take a long, hard look at that European vacation or study abroad semester you have been putting off for you or your kids. 

Elsewhere, TSLA is gapping up to what should be the first major area above to observe to see if sellers arrive, the $230-$232 zone.