 Hello Traders at CMC Markets. This is Trevor Neal, Analyst at R&G Research. Today is the 5th of December, Tuesday the 5th of December and I will be covering this move up in the dollar, short-term move up in the dollar and also the DAX. We will start by looking at an R&G graph of the sterling cable, the euro and Japanese yen versus the US dollar here in the middle. This is an hourly sampling here so this is the last one current, 1, 2, 3, 4, 5 hours of movement. You can see all of the currencies are in the lagging quadrant that means the dollar is pushing up at the expense of other currencies and none of them in a particularly good position or shape. None of them are flicking round and northeasterly or anything like that so the current trend is continuing as I speak. Starting with the euro, this is an hourly chart of the euro and you can see that the euro is going down on that steadiness of the dollar and it's doing so in ways impulse, reaction, impulse, reaction, new impulse. Yesterday on the fourth and now reaction which may be running out of steam as it reaches resistance. This is a typical of the behavior in a downtrend like this when we have this reaction here it lost steam at the previous low so here's now the current low and we're rallying and it looks as the first look of losing momentum. The MACD which is a lagging indicator of course is still negative but the gap is closing quite sharply. Looking at the RSI we can see it's rallied. It's rallied to 45 that it's corrected enough as it did do here for example it went above 50 as it did do here above 50 here. The rally is rather weak so this is not a great setup. Maybe it's going to rally a bit further in the near term before turning down and resuming the longer term downtrend. The technical setup for it is not particularly attractive. Sterling is weak but it has found support at this previous low from 30th November at 126 and it's come back tested it twice yesterday and bouncing a bit from it today. The MACD is negative so negative for the pound strong for the dollar. The RSI has recovered again not enough in my opinion and not up to the 50 level to make the trade particularly attractive. It has bounced into resistance but it hasn't got the sort of concerted downtrend of the euro. If it breaks the 126 level then I think we can say that it is going to be going lower again. Now the Japanese yen again hourly and of course we're expressing this here this moving down here is the dollar weakening. Now here we have I think got a setup. We have been going up that's the dollar going up low higher low and so far higher low holding. We had some resistance pulled back broke the resistance and have consolidated around the resistance at 147.10 but it's breaking down now and I can see the MACD is as I speak crossing over. The RSI which had got nicely up to quite a good reading of 80 is coming down quite rapidly here so momentum is increasing on the downside and on the stochastic it is going down and the gap is widening here. Yes we got support around the 146.60 level centered on there but it does look as though in the short term this one is going to go lower then we'd have the resistance up here from the last week. This one does look as though it's a dollar turning down yen turning up and that should extend so I think of the three currencies we've got here given that in the background we've got steady in dollar but they've got different shapes and here on the yen we've got different shape completely and it's a rather interesting setup for a pullback in the dollar against the yen and finally I wanted to talk about the the German DAX. We've been in an uptrend here since a bit of last week up a little bit of a pause then a breakout gap opening up pullback rally and then now yesterday a very flat day losing momentum. So here we saw that the the MACD on the hourly chart crossed on the on the 28th nearly crossed as the we had the pullbacks the reactions in the uptrend but didn't cross a good call there by the MACD but now the MACD has crossed and it's turning down and the gap is widening. Also the RSI here we've got a bearish divergence in the RSI we've got lower highs in place here while we've got sideways trading here so complete sucking away of the upside momentum here from the market and the stochastic has given a divergence and a sell signal as well. I thank you very much indeed. I hope you find this useful and beneficial to you. I wish you a great day and from me Trevor Neal of ROG Research may the trend be with you. Goodbye