The euro is following my script

A disciplined use of charting methods is all you need to know which way the market will turn, says John C Burford. Here, he surveys the charts to see what's in store for the euro.

Since I last covered the euro on the3 May,we have seen some interesting developments. Last week, the European Central Bank(ECB) lowered its policy rate from 0.75% to 0.5%, and the euro barely budged on the news.

Maybe all of the big players discounted this earlier, with perhaps a nod and a wink from the ECB that they were planning such a move.

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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.