Is the euro about to hit a major target?

The euro has been in solid rally mode in recent weeks. But are we now due a trend reversal? John C Burford examines the charts.

When I last covered the EUR/USD on 3 March, tensions over the Ukraine were only starting to emerge. Since then, these tensions have escalated. And that, of course, has impacted the markets.

The EUR/USD has certainly not been immune to the events that have unfolded in Crimea. With the reported flow of funds out of Russia and into the euro, the EUR/USD has been supported somewhat and this extension of the rally negated my best guess that I suggested last time.

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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.