Sentiment has reached extremes and there are only a few Euro Bulls left. Exactly the right medicine what Doctor Market subscribes to OT and we listen. As Chin Wag Members are well informed, a tiny long position in FXE has been entered when Euro was trading at 1.238. Since we are not into currency too much involved , we leave it with that tiny long position as Miners will benefit anyway from a rising Euro in the near future.
The EURO WEEKLY ( FXE ) CHART shows a possible IHS whereby 50% of IHS or SHS are failing. That being said, the weekly chart is oversold enough and mixed with an extreme bearish sentiment the rally can have legs until 1.32 the least and possibly 1.42