Friday, February 1, 2013

EURO...en fuego!

Well so much for a EUR resistance area and pullback as highlighted with this post Watch your Euro.  It just doesnt seem to be happening as originally thought.

And that leads me to this post and chart...a weekly of the EURO now that it has cleared resistance at 1.34/1.35. It appears off to the races. Notice that momentum on the lower portion of the chart is also moving up nicely.

While the first real resistance area is around 1.42, a measured move from here on the inverse head and shoulders break UP is to 1.45. That move would pull US equities to new highs and a huge continuation of this bull market.