Is the Writing on the Wall?
By: Jeff RatajczakJune 1st, 2011 5:41PM CDT
Even though the Euro has staged a slight comeback I still feel that there is plenty of room to the downside. The chart seems to be forming the right shoulder of a head and shoulders pattern. If resistance holds near 1.4500, you could see a sell off to the 1.4000 level or beyond. After all European sovereign debt issues are still far from disappearing, and any help from a strengthening US Dollar in my opinion would push the Euro down even further.
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Jeff Ratajczak
Commodities Broker
Jeff Ratajczak began his financial career in the stock market as a retail broker in 1993. He transitioned to futures in 1999 with LFG Intermarket Group, which became ZAP Futures. ZAP Futures was acquired by RJO Futures' parent company R.J. O'Brien in 2004. At present, Jeff works with RJO's extensive IB network to take care of their FX needs. Jeff's focus is to assist clients in managing risk and speculate through futures and option strategies. Jeff attended Illinois State University..... Read More
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