Euro Bull Charge Runs Out of Steam
The Euro bull charge was stopped dead in its tracks yesterday with the daily euro vs dollar chart ending with a large bearish engulfing candle. This downturn has been despite the ECB raising rates to 4.25% and poor nfp numbers. In forex a hike in interest rates is usually seen as [...]
Euro Bulls On The Move
Last night’s Euro 2008 cup final between Spain and Germany could have been an allegory for the tensions currently within Eurozone - good to see nimble footed Spain outplaying a typically dour German side. Germany usually manage to grind out a win, at any cost, but this time creativity and flair won the day [...]
Euro Turns Bearish
Having reached the 1.55 target rather more quickly than I had anticipated the euro has taken a very bearish tone (bearish engulfing candle on the week). Although it is holding up today I believe we can expect a further fall to 1.54. If it begins to approach the 1.53 level - last [...]
Euro Trend
As forex traders we often only view currency strength and weakness as figures on a screen, from which we can make or lose money. For us, the worst that can happen is a losing trade, but in the real world it is far worse. Having just returned from a trip to Sicily, the effects [...]
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