We’ve had a nice little sell-off in the Euro. But it might be time for a break and forming a little “left shoulder” on the daily Euro chart.
Longer term I’m still uber-bearish on the Euro – it’s the weakest of the major currencies and for good reason:
- Never fixed the bank balance sheets
- Never fixed the Euro construct
- Germany’s demographics are peaking (see Harry Dent’s Demographic Cliff)
- France hasn’t balanced a budget since 1974
- Russian sanctions are hurting European exporters, etc.
Plus we’ve got to go “Pull Back” to “End of Trend” on the weekly chart with Exhaustion Selling – and we’re miles off that. But we’re due for a little pause.
Good luck with your Emini trading.