EUR USD Could Break if Trichet Raises Cause for Concern

Today, European Central Bank President Trichet speaks to the Eurogroup,  a meeting of the finance ministers of the Euro Zone.

Today, European Central Bank President Trichet speaks to the Eurogroup,  a meeting of the finance ministers of the Euro Zone.

Forex traders should watch for comments from Trichet which address his concerns about the recent rapid rise in the Euro, and its possible detrimental effect on the Euro Zone recovery. 

Trichet may try to talk down the currency by mentioning that the recovery from the recession may be detrailed if high Euro prices reduce demand for exports. 

Traders are likely to react to any comments along this line of thinking by selling the EUR USD.

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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