In spite of all the rhetoric talk we heard last week from Draghi, this euro rally has got to be seriously bothering the ECB. I am not sure about this but are we on the brink of a massive currency war right here? We have been in one but this one isn't that obvious. Ps. A way to strong EURO is very bad for the economy as it will eventually make Europe way less attractive to import goods from (trade with).
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EURUSD, earlier today we went down into the blue box. Not surprising as this was a strong support zone, note the multiple bounces from it. We now have a new box, the red one.
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I am currently watching the EURAUD. It has been slightly rejected by the 261.8 Fibonacci extension. Potential for a little pullback before continuing again. ~~MyHedge~~
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