Last week Euro currency has renewed its victory as a heaven currency. The 1.34800 level held so many multiple attacks but its resilience was immune. However, keeping in mind that Euro is trading now way to far from the 1.30 i suspect the rally will continue to any significant levels ...
The Euro's crosses provide a very clear image of a Strong Euro - the currency is be sold against the majority of its pairs. While the signal currency is holding up at 8 months high, Eurjpy might be turning from there! On the H1 /H4 there is a bearish setup ( A retrace) , EURCHF is at a week low, EURAUD 4 months low & Gold near a week high and struggling to maintain advancing...
To make it simple, the rally is caused by a weak dollar - but comes right behind in weakness the Euro , as the markets don't trust them that much. ( Remember italy's Berlusconi attack on government & almost took it into limo).
Personal recommendation:
Sell the dollar against Euro
buy The AUD, JPY against both EURO & Dollar
The Euro's crosses provide a very clear image of a Strong Euro - the currency is be sold against the majority of its pairs. While the signal currency is holding up at 8 months high, Eurjpy might be turning from there! On the H1 /H4 there is a bearish setup ( A retrace) , EURCHF is at a week low, EURAUD 4 months low & Gold near a week high and struggling to maintain advancing...
To make it simple, the rally is caused by a weak dollar - but comes right behind in weakness the Euro , as the markets don't trust them that much. ( Remember italy's Berlusconi attack on government & almost took it into limo).
Personal recommendation:
Sell the dollar against Euro
buy The AUD, JPY against both EURO & Dollar