Thursday, June 5, 2014

Big Euro Reversal (EUR/USD)

We saw a shadow of it in the gold market but here's what cast the shadow:
The euro and gold will trade lower but for today we have drama.
From Slope of Hope:
Something tells me there are some very surprised FOREX traders out there. After Draghi announced negative (yes, negative – - – our world is so insane now, it doesn’t even register anymore) interest rates, the Euro plunged…………..then started zooming higher. Welcome to the other side of the looking glass. Here’s the EUR/USD from this morning:
0605-euro