Technical strategist DeMark called the bottom of the euro. Here’s what he’s saying now about the euro, bitcoin and the Nasdaq 100

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Technical analyst Tom DeMarks’ indicators are designed to anticipate turning points and excessive price movements.

In late September, DeMark told MarketWatch that the euro was exhausting its downtrend and the euro hit an intraday low the day after the article was published on September 28.

DeMark

Now he says EURUSD, +0.05% could see its first setback after a 15% multi-month rally from $0.9536. But the setback won’t derail a longer-term move to $1.20, DeMark says. See DeMarks’ analysis on his site Symbolik.com

DeMark, the founder and CEO of DeMark Analytics, focuses on the number of days that do not have to be consecutive that there was a close lower than the close two days ago. Subject to various conditions, when the countdown reaches 13, a buy signal is triggered. (The reverse is the case on the climb.)

In November, DeMark told MarketWatch that bitcoin BTCUSD, -0.17%, was nearing a low, which happened on November 21. It is now approaching a short-term top, he said. He says an exhaustion of the uptrend requires two successive closes higher than the recent close high of $23,204, and also a high above $24,095 at $25,055.

DeMark

The Nasdaq 100 QQQ, +0.07%, he says, is rallying above its upside resistance, which is the December 14 close. If the break is confirmed in the coming days, it should see an extended lead, he says.

DeMark

The Invesco QQQ ETF that tracks the Nasdaq 100 has climbed 9% this year.

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