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Is the euro’s bull ride over?

Market Pulse: February 4

By Gary Kamen

February 4, 2013 • Reprints

Last week the March 2013 euro futures contract opened at 1.34680 and closed the week at 1.36650. Note the euro opened 2013 at 1.32570 and in the first week of January almost touched 1.30000 before this latest ride up. In January it seemed very quiet from the EU regarding the debt crisis. We did hear from numerous EU leaders that they thought the worst was over. That is of course until today, more on that later. 

On the daily chart you see ADX over 50 reflecting a very strong trend. MACD has added divergence from above the signal line and Stochastics have been in deep overbought territory until today’s price action. On the weekly chart you can see ADX at 47.9 reflecting a strong trend and weekly Stochastics are in deep overbought territory. You do not need to look beyond the weekly chart to see what happened in the latest move up from 1.22000.

Proceed to Page 2 for the latest COT Data...

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Free Newsletter Modern Trader Follow

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    • Modern Trader Magazine
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    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
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    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
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    • Rare Earth Metals
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