There are a lot of implications in play with today’s chart. Traders of currencies, commodities, equities, and bonds should pay attention.
Today’s chart looks at the Euro FX currency and why it’s at a critical juncture.
First and foremost, the Euro is testing an important trend line support.
As you can see in the chart below, the Euro is testing its higher-lows trend line. Holding this support is critically important for Euro bulls.
It’s also important for Gold bulls. Why? Because a strong Euro means a weaker US Dollar… which means a tailwind for Gold (and other commodities).
So Gold bulls are hoping the Euro holds support here. Stay tuned!
Euro Currency Chart
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