Long Euro

FX:EURUSD   Euro / U.S. Dollar
341 2 0
With the Eurozone finally moving out of recession the Euro             is in a position for a new bull rally. The Euro             has reach the upper triangle line and has broken the 1.365 resistance line. I believe with it will break the upper triangle line and will rise greatly after this summer. With investors having fears that the US markets are getting pricey and that earning may be weak for the third quarter. Many will look at Europe's recession-exiting economy, cheap stocks, and haven from the US's problems as a new place to put their money. The Federal Reserve will most likely not taper (which would be a main reason for the dollar appreciates) this month and for the rest of the year because economic data won't be strong enough, will cause too much stress in the market, and Washington's political battles to no end in sight. Recently, the Euro             made a big jump, this may cause a small pull back as buyers have all ready bought and now there will be only sellers. I think the small pull back will be around the 1.365 resistance line, so I recommend buying there and having a target to at least 1.380. Your stop can be around 1.350 to 1.340.
With breaking out of the upper triangle and the 1.365 the Euro will rally with the rest of this month at least. With Eurozone coming out of recession the Euro will have a new bull rally.
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