Tuesday, April 13, 2010

Has the Euro bottomed?


Hey folks, I have returned from my hiatus. I just wanted to quickly throw this FXE (Euro ETF) chart up here that seems to show a clear breakout. The next step is for FXE to close above its 50 dma which is about 20 cents higher. So far its looking pretty solid, the next test will come at $137.53 and if that breaks, the 200 dma (~$142). On the other hand, the euro might very well just bounce off the declining 50 dma and start making new lows in earnest. I'd bet the euro makes a big move one way or the other in the next few days.

Disclosure: I have no currency positions currently.

2 comments:

chintan shah said...

Hey Hunter,

I returned yesterday from Europe trip.It was pretty good experience.I found Paris most exciting and fascinating place.Rest of the places were good.Italy seemed bit poorer country.swiss is cool place, esp for skiing.London is very nice city.A place worth not visit is Germany,there is nothing to see there and its bit dry land.
Paris is overcrowded with beautiful girls..;)

Its not good idea to enter eurozone if u dont know local language as noone speaks english there.

i have uploaded some fotos on facebook ,will upload other later.


Thanks,
Chintan

pythagoruz said...

Great! I'm glad to hear your trip went well also.