steve.jarvis's picture

It's all about the Euro at the moment

The Euro has climbed back into the top half of my currency rankings this week, this after having been downgraded to neutral for a number of weeks while the Greek situation was grabbing all the headlines.  The Euro is now equal third with the Japanese Yen on a multi-week trend basis, sitting behind the US Dollar & Sterling which remain the strongest looking currencies at this stage.

As regular readers of my analysis will know, each week I go through all 45 cross combinations of the 10 major currencies to identify newly emerging trends and this week the Euro has figured very prominently on my "new ideas" list.   A number of Euro crosses which had previously been displaying potential for strength have over recent days broken key resistance levels and encouragingly for the Euro this latest price action has been supported by a range of technical indicators, such as moving average crossovers and positive looking MACDs.

According to my multi-week trend analysis the Euro is now stronger than the New Zealand, Australian & Canadian Dollars, Norwegian & Swedish Kronors and Swiss Franc.  In some cases the Euro has already run away, but for others recent strength has been relatively  uniform and comparatively small dips over the coming week or two would appear to allow for potentially low-risk entry points in anticipation of further gains.

Below there are a few of the best looking Euro charts at the moment.  For on-going analysis of the Euro and many other currencies besides, please refer to Tradermade's award-winning FX Analysis service.

For those who are not already subscribers, you may be interested to know that Tradermade analyse dozens of FX rates each day.  This includes live charts to highlight the key trends and support & resistance levels, together with suggested entry and exit points.  If you e-mail it will be no trouble setting you up with a no obligation free trial of our service so you can see for yourself. Or take a look at where we post a randomly selected Currency pair (which changes daily).

Charts:- Top left EUR/AUD, Top right EUR/CAD








Charts:- Lower left EUR/CHF, Lower right EUR/SEK