Euro Continues to Attempt Recovery.

The Euro has rallied a bit during the trading session on Wednesday to show signs of life again as we are trying to recapture the 1.13 handle

The Euro has rallied a bit during the course of the trading session on Wednesday to break above the 1.13 handle, showing signs of life. All things being equal, the market probably goes looking towards 1.14 level based upon the strength that we are seen. That being said, it does not necessarily mean that we are going to shoot straight up in the air, but we are forming a bit of an ascending wedge, so that could end up being another signal to go lower. That being said, there is also the bullish case that could be made due to the fact that the market has been oversold for a while.

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s