Euro Bounce in the Cards
"How does a project get to be a year behind schedule? One day at a time." -- Fred Brooks
Recently I've addressed the idea that the European Central Bank appears to be on the verge of breaking the risk-off trade, with the euro itself nearing a key support level relative to the dollar. Given the severe bearishness on the euro, I've been arguing for the likelihood of a countertrend rally. Specifically, late last month I said, "A recovery in the euro would serve as a vote of confidence in the idea that Europe will not implode because of Spain. This would more be a relief trade, though, as longer-term parity remains the likely level to be reached over time."...228 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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