Friday, July 8, 2011

Euro update

Things are going to get worse if Mr. Draghi (incoming ECB president) continues this. News wires just carried his comments about currency wars. Is he for real? Chinese prime minister was just in Europe trying to lend them the hand. Do not bite the hand that feeds you, Mr. Draghi!
Euro is getting creamed across the board now. Lets see if M. Draghi backpedals out of his comments, and says that they were taken out of context...

Technicals: we are below 100 dsma now and pecking 1.4220 support as I type, if broken the vacuum below here is 60 pips to the lower trendline of the daily triangle and lower BB @ 1.4160. Daily S2 is there as well. 

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