Will The Euro Explode This Week - spartan forex trading academy

Will The Euro Explode This Week ~ spartan forex trading academy

Traders are very aware of the Euro today, there are many questions as to the future of the Euro and also the EU.

So many questions, in fact, that the currency is more or less treading water until there are some announcements.

Iceland has withdrawn its application to join the EU. Other nations want to escape from the controls of the EU. This could be the beginning of the end of the EU as financial pressures are resulting in  political turmoil.

I have a new Point & Figure chart below, I like to refer to Point and Figure often as a guide to what may be coming. You can see that the new price target is 92.0 which is a long way from the current price. I have no idea as to the validity of that target or the date at which it will be reached. I wanted to include it in this post as something to refer to as days pass.

Here is a monthly chart of EURUSD. The currency appears to be in a free fall and there is not much in the way of support to rely on.

And here is some related commentary, I expect there to be a lot more as the day passes.

Euro Back in Davos Focus as First ECB Then Greece Decides - Bloomberg

Mon, 19 Jan 2015 07:55:55 GMT
BloombergEuro Back in Davos Focus as First ECB Then Greece DecidesBloombergThe euro-area economy is back in the cross-hairs of investors. Its a familiar place for the currency bloc, which spent the past five years struggling for growth, the faith of ...

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Euro stays on edge as crucial ECB meeting looms - Reuters

Mon, 19 Jan 2015 04:57:38 GMT
Business InsiderEuro stays on edge as crucial ECB meeting loomsReutersSYDNEY/TOKYO (Reuters) - The euro flirted with 11-year lows on Monday as investors braced for the European Central Bank to take its boldest steps yet to combat deflation and revive ...

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Banks Battle Speculation Denmarks Euro Peg at Risk: Currencies - Bloomberg

Mon, 19 Jan 2015 06:09:22 GMT
BloombergBanks Battle Speculation Denmarks Euro Peg at Risk: CurrenciesBloombergSEB AB, the Nordic regions largest currency trader, said its been fielding calls from hedge funds wondering whether Denmark might be next after the Swiss National Bank ...

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Yen Rises as Chinese Stocks Rout Spurs Haven Appeal; Franc Drops - Bloomberg

Mon, 19 Jan 2015 09:47:14 GMT
Yen Rises as Chinese Stocks Rout Spurs Haven Appeal; Franc DropsBloombergThe Swiss franc fell against all 16 major peers, giving back some of its surge last week that was propelled by the central banks decision to let the currency trade freely again ...

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Swiss officials reassure after scrapping euro cap - EurActiv

Mon, 19 Jan 2015 07:10:36 GMT
EurActivSwiss officials reassure after scrapping euro capEurActivFinance Minister Eveline Widmer-Schlumpf said she expects the exchange rate to settle down at around 1.10 per euro, a level she believes firms in the export-orientated country should be ...

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Australian & NZ dollars near highs vs euro, resilient on US dollar - Economic Times

Mon, 19 Jan 2015 03:19:40 GMT
Sky News AustraliaAustralian & NZ dollars near highs vs euro, resilient on US dollarEconomic TimesSYDNEY/WELLINGTON: The Australian and New Zealand dollars hovered near multi-month highs against the euro on Monday, with investors awaiting key economi ...

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