Is the euro forming a bottom here?

The euro has been steadily falling against the dollar. John C Burford examines the charts to see whether a rally is on the cards.

Today, I will pick up covering the euro from last Monday simply because it shines a light on the difficulties in attaching the correct Elliott wave (EW) labels to the waves as they are being formed.

Of course in hindsight all is clear. But then the opportunity is gone. So we must deal with the information we have in the present and that information is always incomplete.

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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.