After bottoming on the year with an engulfing reversal bar, the pair has gained 4 of the last 5 weeks for the first time this year. The bulls were on parade all last week till they ran into the weekly 20ema before being rejected back 81pips from the highs. So far this year, the pair has closed all but 3 weeks above the 20ema so breaking and closing above it would be an interesting technical event.
However, I cannot imagine investors being excited about being long EUR vs. anything other than the IQD (Iraqi Dinar) as many inside Germany and other countries are preparing for a possible Grexit. The rejection from last week was decent enough to …... Keep reading