The decline in the Euro has begun
The chart above is a quarterly view (3 month candles) of the Euro against the Canadian dollar. IMO the Euro will be weakest against either the Cad dollar or the Australian dollar (both commodity currencies), but it looks like of all the majors it is in the worst position.
EURAUD monthly:
EURUSD monthly
EURGBP weekly
Euro priced in Gold
Currency markets are in trend mode. For as long as I've watched/traded currencies they have always rung the macro bells ahead of anything else. My last post on the Ruble (see related ideas below) was a big warning signal and now we're seeing the alarm bells ring in the Euro. These are very high probability set-ups... so we'll see what the implications are if they come to fruition.
EURAUD monthly:
EURUSD monthly
EURGBP weekly
Euro priced in Gold
Currency markets are in trend mode. For as long as I've watched/traded currencies they have always rung the macro bells ahead of anything else. My last post on the Ruble (see related ideas below) was a big warning signal and now we're seeing the alarm bells ring in the Euro. These are very high probability set-ups... so we'll see what the implications are if they come to fruition.
Komentarz:
First support hit today, more downside likely to continue after some chop:
