Euro is in a difficult position and ECB President is not helping the common currency at all.
Although ECB said that above 1.41, EU is loosing its competitiveness,
with the current situation in the commodities market, I don't think that a cheap Euro would help in any way Europe and deserve better the European economy.
THIS IS A 1 MONTH SCALE CHART !!!!
On the big picture we do have a falling wedge. But there is no chance for an exit from the upside at least not for the moment. However, baring in mind the oversold level of EURO there is still a room for a final upside before Euro goes deep down bellow 1.30 and particularly when FEd decides to increase its interest rate.
Although ECB said that above 1.41, EU is loosing its competitiveness,
with the current situation in the commodities market, I don't think that a cheap Euro would help in any way Europe and deserve better the European economy.
THIS IS A 1 MONTH SCALE CHART !!!!
On the big picture we do have a falling wedge. But there is no chance for an exit from the upside at least not for the moment. However, baring in mind the oversold level of EURO there is still a room for a final upside before Euro goes deep down bellow 1.30 and particularly when FEd decides to increase its interest rate.
