Is this the cheap China COVID hedge?

The Market Ear Picture

Mighty euro - double top at the 200 day moving?

The euro could be making a short term double top right on the 200 day moving. Note the negative RSI divergence as well as positioning having gone only one way in recent weeks (chart 2). The crowd is positioned for the euro to move higher...Dates to watch going forward: "JOLTS job vacancies (30/11), ISM indexes (1/12 and 5/12), nonfarm payrolls (2/12) and US CPI figures (1312). Other key factor will be the speech from Chairman Powell say on the 30th of November and the Fed meeting on the 14th of December." (Nordea)