Just a quick look at the Euro and Dollar charts.
First, lets look at the wondrous and fundamentally sound European currency.....
Euro, weekly, 5yr
The Euro has been surprisingly strong lately. Many analysis still have targets ranging from 1.25/1.15 by year end. Now that the Greek crisis is solved (yeah, as if they won't need a third bailout, lol), the Euro is gaining some strength.
Targets ? If Euro can break above 1.34/35, then we have a real chance at something very surprising occurring. The most bullish case would obviously be a challenge to the upper descending channel at the 1.45 level. Right now, to many, that would seem an impossibility.
Euro, daily, near term
Near term, we have the Euro due to cycle up, and look set to again test the 1.34 level. A break over the 200 day MA at 1.3578 would get a lot of media/analysts attention.
Dollar, mid term bullish count
The above chart count is just a wild speculation, based on the notion of one further wave of weakness - with Euro strength in early summer, before a pretty severe trend change, with strong dollar strength into the winter.Conversely, a break over 81.00 would violate this count.
Regardless, any further dollar strength would put downward pressure on both the commodity and equity markets.
Goodnight
First, lets look at the wondrous and fundamentally sound European currency.....
Euro, weekly, 5yr
The Euro has been surprisingly strong lately. Many analysis still have targets ranging from 1.25/1.15 by year end. Now that the Greek crisis is solved (yeah, as if they won't need a third bailout, lol), the Euro is gaining some strength.
Targets ? If Euro can break above 1.34/35, then we have a real chance at something very surprising occurring. The most bullish case would obviously be a challenge to the upper descending channel at the 1.45 level. Right now, to many, that would seem an impossibility.
Euro, daily, near term
Near term, we have the Euro due to cycle up, and look set to again test the 1.34 level. A break over the 200 day MA at 1.3578 would get a lot of media/analysts attention.
Dollar, mid term bullish count
The above chart count is just a wild speculation, based on the notion of one further wave of weakness - with Euro strength in early summer, before a pretty severe trend change, with strong dollar strength into the winter.Conversely, a break over 81.00 would violate this count.
Regardless, any further dollar strength would put downward pressure on both the commodity and equity markets.
Goodnight
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