EUR USD Up Slightly in Choppy Trade

The EUR USD weakened early in the session on poor economic news but has erased all losses.

The EUR USD weakened early in the session on poor economic news but has erased all losses following a supportive statement from European Central Bank President Trichet. In a speech before the Euro Group, Trichet said it is “extremely important” that the U.S. supports a strong Dollar. This was perceived as bullish for the Euro because many traders had gone into the report thinking Trichet would try to “talk down” the Euro.

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

Disclainer: