FX ticker

Thursday 3 November 2011

Euro far from clear but downside more likely



Pretty hard picking the Euro from day to day or even medium term. But it is hitting some important marks. It stopped right at the underside of a trendline stretching back to 2010 and also at the breakout of a very messy triangle. a big drop from there with a quiet inside day suggests another move down is the most likely. I'd seriously think about big upside potential if the Euro can manage a decent break above the down trendline shown starting in April and touching again in August. Until then the trend is down.

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