May 19, 2010
Euro Continues to Rally; Shorts Getting Buried in Surprise Reversal
The Euro reversed earlier weakness to form a daily closing price reversal bottom. This pattern sets up the start of a possible 2 to 3 day rally to 1.2742.
The weakness Wednesday morning was triggered by yesterday’s news that Germany was banning naked short-selling of certain assets. Traders sold the Euro hard as they
speculated that the action by Germany was a sign that there was trouble in the …
