Will last week’s euro rally last?

The euro's recent rally is showing all the hallmarks of running out of steam, says John C Burford. Here, he puts his trading methods to the test in the hunt for his next entry point.

I have concentrated on the super trading lessons provided by the Dow recently, so I have neglected the euro and for good reason.

The long-term bear market has taken the EUR/USD rate into new low ground, close to my long-standing 1.20 target.

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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.