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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