The euro breaks though my tramline

The euro has charged up through John C Burford's chart tramline. Can the single currency hit a new high for this year? The moment of truth has arrived.

The Dow and the euro are at major junctures. Today I will cover the euro, because it has well and truly broken above my tramline, which I showed youlast time.

In my 19 November post, the market was backing off the 1.30 level but finding some support in the 1.27 area, and I had my tramlines set on the hourly chart below.

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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.