Is the euro primed for a big rally?

The euro fell heavily on the news from the European Central Bank. John C Burford explains why a rally could soon be underway.

Last Friday, after Mario Draghi dragged the euro lower, I noted the delicate position the euro was in after the massive 200-pip collapse on Thursday.

And this morning, it is the turn of GBP/USD to be dragged down (the Salmond effect?). But as the pound is off by more than 150 pips as I write, the euro is holding its own, so far.

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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.