 Hello traders at CMC Markets, this is Trevor Neal of ROG Research. I'm focusing to you on the 20th of December from London. Today we're going to look at the Nasdaq, the FTSE and the DAX and also we're going to look at the Pound and the Euro. First the Nasdaq is an hourly chart and I'm very concerned about this. We've got a nice uptrend that's for sure but we've got a wedge a pattern so we've got higher lows in place and then we've got higher highs in place which would normally be bullish but we've got this tightening up we've got this after an impulsive move this loss of momentum in this phase in here you see it here in the very clearly in the MACD also in the RSI here so we're definitely losing momentum and it's quite unusual for these patterns to break to the upside but it's literally got a break in the next hour if break either up or down I say it's unusual for it to break up but we've got a clear point to tell us that it is breaking up when the this RSI line is broken more likely statistically to break to the downside and if it does then we should come back to at least around 16,350 so watch out I think given the tightening up pattern that we've got there it's becoming a bit like a coiled spring and it's about to make a move could be up but I think more likely to be down and that would break the trend that we've had over the last few days bring it to a temporary end I think it is just a temporary end of it so watch out but it's going to happen very imminently now the FTSE is in a gentle uptrend it's very poorly performing on a relative basis but all the soft markets are going up even the weakest ones here but this is actually the one with the best pattern maybe the Dow as well but here we've got a nice uptrend line with several points on it we've held the line to get tested it and held it looks as though we're on our way up now it's very cautious about the DAX that turned out to be right the bearish divergence so remember this for the for the NASDAQ we're in similar condition right now turned out to be a good warning so high high high lower high pattern here and also replicated in the RSI but you can see now the RSI has been broken so I'm actually with due reverence I'm going to delete this line because it's now been broken this downtrend line and I think it's behind us now now we're on our way up and now moving to the currencies the the dollar is having is going a little bit steadier that's bringing the euro and the pound down in the south westerly direction in this weakening quadrant is weakening because the dollar is strengthening and here you can see the euros behavior here but what you can see really quite a strong last big move here in the pound this is now the sampling and then the last hour dropped away very sharply is a big gap between the sample and the previous one here so you would expect to see a plunge that would be what a plunge would look like so let's go and have a look we'll look first at the euro so here is the euro weakening we've got two tops in place at one nine ninety and then we've got further resistance up here at one ten oh seven we've got support I should put this in here at one nine fifty and then really strong and important support at 10890 the MACD is reflecting that easiness there the RSI has gone down all the way down below 35 and ticked up and here is cable and it is the plunge that's a big gap on the RRG and the samples there and look what it's done to the RSI plummeted RSI and here the MACD was already on the way down here it's approaching support however and the support is at 126.30 if that gives way then we could really plummet down to around 125.40 it is support however and we have to look at the behavior as it approaches it if it bounces then I think we've got a range in place here with the top of which is 127.60 and then two highs up in here at 127.90 thank you very much indeed everybody I hope you find this useful have a good day and may the trend be with you goodbye