A Euro Reversal Setup
The euro has been extraordinarily strong this week and is trading at a six-week high against the U.S. dollar. My colleague Tim Collins predicted the breakout on CNBC's Mad Money with Jim Cramer earlier this week, and I'd like to congratulate him on a great call.
The euro rally has been impressive, but I believe its scope will be limited. One of the main drivers for the rally is positioning, as the market was overwhelmingly short the euro. After this week's activity, the imbalance between long and short noncommercial traders should be somewhat mitigated....507 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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