Friday, October 30, 2009

Forex - Has The Euro Put In A Top?



Above is a daily chart of the ETF for the Euro, symbol FXE. Last week when the Euro pushed up to new highs there was a MACD bearish divergence that developed. Now it appears that a major trendline is about to be broken. In my opinion if this currency can put in one more close below the trendline, I think that would confirm a high is in place and that the Euro should now begin some kind of sell off. Let's see what happens.

2 comments:

frank said...

Too late to buy UUP?

dacian said...

Hi Kevin; euro closed on the trendline :) Quite difficult to say, we need 1/2 more days here, don'y u think?

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