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Published on Nov 22, 2016
The
Euro continues to bounce around the 1.06 level, and of course the
Tuesday session wasn’t any different. This is a market that cannot pick
up any steam to the upside, but quite frankly I am a bit concerned about
the 1.05 level below. That’s an area that’s can take quite a bit of
effort to break down, and as a result I would anticipate some type of
short-term rally coming soon. However, I don’t necessarily think that
this rally is going to be anything more than “value” in the US dollar. I
look for exhaustion after the short-term rallies to sell, but quite
frankly it hasn’t happened yet which is a bit of a surprise.
Nonetheless, I have no interest in buying whatsoever.
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