The euro rallies – but where to now?

The euro's strong rally will have come as a shock to many traders. But not to experienced chartists who saw it coming - and made hefty profits, says John C Burford. So, where is the euro heading now?

Since early this month I have forecast a sharp rally in the EUR/USD. My view was formed by the technical picture and you can read my analysis in previous posts:The mostimportant chart of the year so far,and most recently, Is the euro nowin a bull market?

But now the rally is underway, more and more pundits are jumping on the bandwagon. Hindsight is a wonderful thing, but no-one makes money trading it!

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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.