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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

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NOTABLE POSTS WITH IMPORTANT UPDATES...

Saturday, May 20, 2017

Euro Poised to Extend Rally

Should the Euro break and hold above near-term resistance at 1.1250, it's conceivable that it could reach the next level at 1.1500, as shown on the Daily chart below.


And, should the Euro break and hold above 1.1500, it would face long-term Fibonacci resistance around the 1.1680 level, as shown on the Monthly chart below.

Once through that level, the ultimate major resistance sits at 1.2000, where it would face extreme overhead supply.

However, before we get too far ahead on such a bullish scenario, we'll have to wait and see if it can, first, make it above 1.1250. Should U.S. equities weaken substantially, under conditions as I've mentioned here and here, such a Euro rally to that level, and beyond, could materialize.