The euro is heading for a crucial level

The wild swings of the EUR/USD market are proving hazardous for traders. But is the euro about to top out? John C Burford consults the charts to find out.

I have been neglecting the EUR/USD recently, but quite honestly, I have had very little to say on this market as it has been in a wide consolidation phase for several days.

Consolidation phases are very tricky to trade, especially for the wider swings, as you are likely to get whipsawed to death zigging when you should be zagging, in other words.

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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.