The Euro backed off in Asian trading after nearing the February 2 top at 1.3861. Although the slight break from the high at 1.3837 has the appearance of a daily closing price reversal top-in-the-making, there isn’t an apparent reason for the break at this time except perhaps the lack of fresh buyers.

After changing the main trend to up on the daily chart on the breakout through 1.5911, the British Pound appears to be shifting to a corrective mode which may mean the start of a short-term correction to 1.5702 to 1.5618.

The December E-mini S&P 500 is trading flat after posting a closing price reversal top on Tuesday. The lack of follow-through to the downside means the signal hasn’t been confirmed yet, setting up the possibility of a rally back to 1215.50.

U.S. equity markets as well as December Crude Oil and December Gold are trading lower this morning, after the government reported a 3.3% rise in September Durable Goods orders.