timwest

FXE (EURUSD) EURO cover shorts, oversold at support

AMEX:FXE   Invesco CurrencyShares Euro Currency Trust
2
See comments on the chart and view previous charts on FXE that I have posted.
Essentially, the FXE ( EURUSD , Eurocurrency) is struggling to make new lows despite very negative news lately and concerns about liquidity in European banks. If this is as low as we can go on news that severe, then we have to assume that the bears are short and have no more ammo to shoot at this market. It's time for the bulls to take a stand and see what upside damage they can inflict on the bears. If you are courageous and brave, it is time to buy with very tight stops. If the FXE goes under the 131.5 low, then I will re-view my position. Cheers. Technical Tim. Friday, Dec 9, 11:21AM EST

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