The long term down trend of the Euro has been in force since reaching around 1.60.
The support in the 1.11 -1.12 level has resulted in very low volatility and a search for a base.
The Euro started at .90 and in my mind the thought arises that the cycle may not be finished.
A final decline to .90 would create the kind of panic that would finish the cycle and then...
European banks have been much maligned and languishing for years.
Some banks have been trading at yields of close to 6 per cent (UBS and BNP are good examples.)
Despite the bad news and continued QE, banks in Europe even Deutsche seem to be forming long term bases.
The bases seem to be rounding bottoms and despite the fact that I am not bullish in general the...