While the dollar’s bullish
strength continues to fade the Euro
is picking up the slack. We see the Pound stronger than the US Dollar
and the Euro
stronger than the Pound. Over the last month according to finviz.com the Euro
is up .43% whereas the Pound is down .7%. The Euro
in this chart is carving out a bottom here on the .618 fibo retracement of the 9/30 low (.7768) and the 10/15 high (8021). I expect to see a run at resistance and in all likelihood and extension of this rally higher.