Euro Hovering around Four-Year Low

The EUR USD reached afour-year low this morning, driven lower by fresh fiscal problems from Hungary and a weak U.S. payroll figure.

The EUR USD reached a four-year low thismorning, driven lower by fresh fiscal problems from Hungaryand a weak U.S.payroll figure. Concerns about Hungary’sfiscal situation initiated the break before the New Yorkopening, while the data helped accelerate the move to the downside.

The weaker-than-expected U.S. employmentreport helped trigger a flight-to-safety rally in the Dollar while drivinginvestors out of commodity-linked currencies. Aversion to risk is helping toweaken U.S.equity markets, helping to drive up demand for the lower-yielding Japanese Yen.

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