EURUSD Stays Strong
- June 30th, 2011
This week has been frought with news out of Europe. Greece has dominated the headlines but Italy has also come up as investors decide how seriously to take these sovereign debt issues. Fundamentally, the $EURUSD has been expected to weaken for well-over a year now. But the technicals and charts have pointed in quite the opposite direction.
- @gregmikefx expects a break to the next topside resistance level as EURUSD tests trendline resistance on the daily chart
- @tag_ur_pregnant is also a euro bull as he sees the RSI supported by the bullish trend
- @peterlbrandt, a much longer term trader, is also bullish the euro on the much larger timeframes
- @blackmarkt also recognizes the bullish trend in the $EURUSD but expects a pullback after the week’s monster move.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Lydia Idem has been investing in equities for 16 years and trading currencies actively for 5 and a half years. Her trading style is simple and short term. With a special feel for sterling, Lydia trades almost exclusively the GBPUSD and EURGBP. You can follow Lydia on Twitter and StockTwits... (more)