Euro nears resistance
The Euro up / US Dollar down trade has gone hand-in-hand with equity gains for the better part of a decade now. It’s never been more true than the last couple of years. There are technicals signs that the US Dollar may be nearing a reversal. Rumor has it that China is in the market supporting the Euro. It’s getting awfully close a serious test of the US Dollar reversal thesis as the Euro is very close to resistance of its recently formed downtrend line (around 1.45). Similarly, the US Dollar is testing support of its recent higher-highs.