Chart Of The Week - Euro currency

Each week will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Since the start of 2012, the June Euro Currency has traded in a range between 126.35 and 1.3496. Most of the time, the price was narrowed into a range that was finally broken last week on Friday after the United States non-farm payroll disappointed. The lackluster report was combined with anticipatory selling ahead of elections in France. The drop in futures prices continued on Sunday night after France elected a member of the Socialist party into office for the first time in over twenty years. Surprisingly, the initial drop on Sunday night was short lived and technical trading took over. The chart below clearly shows the targets that the trade had in its sights. Continue reading "Chart Of The Week - Euro currency"