The euro rallies – but what now?

The euro has rebounded from recent lows against the dollar. But now it stands at yet another crossroads. Which way will it turn next? John C Burford looks at what the charts can tell us.

When I left the euro on Monday, it was right at a crossroads and resting on my long-range tramline.

I believed that the action early this week would resolve the question will support collapse, or will it hold?

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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.