Has EUR/USD started a new bear trend?

The odds are stacking up, suggesting that the rally in the euro vs the dollar is over, says John C Burford.

Today, I will continue following my euro trade because I was still faced with the problem of when and where to take my profits. Since my last email, I decided to act.

Last Friday, I described how I had taken my latest long position just prior to the Yellen rally where my trade was instantly in profit. This was the hourly chart then:

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.