timwest

FXE (EURUSD) EURO cover shorts, oversold at support

AMEX:FXE   INVESCO CCY SHS EURO TR
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See comments on the chart and view previous charts on FXE that I have posted.
Essentially, the FXE ( EURUSD , Eurocurrency) is struggling to make new lows despite very negative news lately and concerns about liquidity in European banks. If this is as low as we can go on news that severe, then we have to assume that the bears are short and have no more ammo to shoot at this market. It's time for the bulls to take a stand and see what upside damage they can inflict on the bears. If you are courageous and brave, it is time to buy with very tight stops. If the FXE goes under the 131.5 low, then I will re-view my position. Cheers. Technical Tim. Friday, Dec 9, 11:21AM EST
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Comments

This was really impressive:


Will see what will happen now. Based on the fundamental factors i see no reasons for bullish trend.
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timwest charttrader
Thanks - I appreciate that you remembered and that you replied. I hope you had a great 2011.
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