Don’t think we’ve seen the end of the EURUSD selling.
Large 2 cent megaphone pattern on the 1 Hour EURUSD chart. Price broke down through the center… short from there.
I think the recent spike in interest rates is temporary. The Federal Reserve will continue $85 Billion in money printing until late next year.
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The unemployment number came down to 7.5%. The Euro/USD took a dive into the 1.3050 area. So, does this continuous decline in unemployment cap any Euro advances? The FED has already said that once unemployment reaches 6.5%, the $85 Billion in bond buying per month will start to taper off. And, when that happens, interest rates will start to rise and the USD will become more valuable.
The next several years are going to be quite interesting. I predict 2014 to be the year that our interest rates start to rise, and the Euro starts a sustained decline.