EUR USD Struggles As It Nears 1.50

The U.S. Dollar resumed its downtrend after trying to mount a small comeback late last week.

The U.S. Dollar resumed its downtrend after trying to mount a small comeback late last week. Better than expected earnings or projections for better earnings in the future helped drive up equity prices which in turn boosted demand for higher risk assets.

The EUR USD is getting closer to the psychological 1.50 resistance barrier. This is taking place while Euro Zone finance ministers are meeting in Luxembourg. This opens the door to possible commentary from the members regarding their concerns about the rapid rise in the Euro and its possible negative effects on the Euro Zones economic recovery.

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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