Forex Analysis : EUR/USD. Basket case countries back in the limelight

Euro debt woes are back in the headlines after they were pushed aside due to the Middle East issues, with 1.4200 or so in sight this week.
Trade View
• It is clear to us certain European countries are in a right old mess, following the wrong policies dictated by an increasingly assertive Germany, which will in the case of Ireland Greece and Portugal (others to come) mean a horrible recession and dark times ahead.
• The Euro does at least have a more sensible central bank than the Americans, but all in all we see the EUR/USD retracing back to 1.4200 in quick order, and quite possibly back to nearer 1.4000.
• The weekly chart evening doji star formation is an ominous sign, and for the VST we are looking for a breakdown below 1.4380 to hasten the fall.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: