Euro Breaks $1.30 – First Time Since April 2005

Fxe20061122
As discussed in my posts going back to November 2004, the dollar has serious fundamental and technical problems. The chart above is the latest manifestation, showing the Euro Currency ETF (Amex: FXE) breaking to a high against the dollar. More problems can be expected over time, though with such as vicious thrashing over the past few days a short-term counter-trend is likely. New positions could be considered on that bounce’s failure. See below for the blurb on CBSMarketWatch.com’s home page today. Cheers!


LONDON (MarketWatch) — The euro broke through the $1.30 level on Friday for the first time since April 2005, as the dollar’s rapid decline since Wednesday continued.

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