Early Monday Morning: Troubled Waters In Euro-Land
We awake this morning with the euro down 0.50 % vs the greenback and some 'interesting' news, In Finland the 'anti'euro' party won a crucial stake in the parliament, which could mean the Portugal bail-out plans by the euro union will stall. Moody's not to be out-done downgrades all Irish-Government garanteed banks to Baa1, […]
EUR/USD At Support Level
The dollar rallied further yesterday, bringing the EUR/USD back down to a multi-year trend line. In early April the dollar pierced through a downward sloping trend line near 1.42 at the time and now is retesting these levels. While this could provide some sort of support, our take is that the dollar's strength here, partially […]
Euro/USD Is Approaching 1.40
Note the quick and steep rally the EUR has staged against the USD over the past three weeks. 1.385 could have served as resistance but the EUR kept rising and is now at 1.40, which should serve as some sort of resistance. Next stop higher would be 1.428, which is the highs from last November. […]
EUR/CHF Breakout. What Does It Mean?
Note the break out of a 10 month downward-sloping trend line in the EUR/CHF exchange rate. Not only that, but the Euro (EUR) is also crossint the 200 day moving average against the Swiss Franc (CHF) for the first time since October 2009. While this may reflect the strength the Euro has been exhuberating against […]