Watch out – the euro is headed lower

A 'kiss' in the charts is indicating a decline in the euro against the dollar. John C Burford hunts for other clues to help firm up his forecast.

As a change of pace from the very volatile Dow, I will cover the EUR/USD today. It is showing some excellent and accurate Fibonacciretraces as well as a terrific new tramlinepair.

On 3 February,I showed the large wedge pattern:

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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.