Euro Highs

The Euro has broken in to all time high teritory this morning with a breakout. This looks like the wave 5 in progress. We are quite likely to see Dollar weakness during the beginning of this year but we think the Dollar will gain strength during the second part of this year.

From the daily chart below you can see the MOB is not far away. This will be a resistance area but listen to the TTN for buying and selling hints fromthe big dogs.

Bernanke will be speaking today and New Home Sales are released later.


Chart courtesy of Advanced Get. Data provided by eSignal.

Forex Analysts
Javid Shaik & Anne Chapman