Tuesday, June 7, 2011
FXE (Euro ETF) Update 6/7
In the previous post I had said it looked like this was ready for a short opportunity, of course not listening to my own advice I said its probably best though to wait for a confirming candlestick signal for your entry, and this is what I get for that. We see the euro has risen almost a full cent overnight, but were seeing more divergence forming again, and while it might not be done, the longer it diverges usually the faster and more dramatic the resultant move ends up being. With no real news today and Bernake set to speak in the afternoon, I could see it being more than possible that what happens off him blabbing might decide if we see a signal this afternoon or not.