Currency Trading, one pip at a time.
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The Euro-US Dollar is between a rock and hard place right now. Respecting the charts will be important. First, I’ll start with my failure to respect the charts during the Wednesday morning trading. The hourly chart above tells a story. The EURUSD was coming from a prolonged downtrend and started to challenge a major support [...]
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It seems like the U.S. Dollar (specifically the US Dollar index) will be tanking in the near-term, at least according to Goldman Sachs, Jim Rogers, SocGen, and many others. Here is a pie chart showing the currency composition of the US dollar index: As we can see, if the expectation is for Euro appreciation, it [...]
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