Attached is a daily chart of December Euro Currency (ECZ2).
There has been a clean breakout of the
previous support levels around 128.30.
At this point we would move our stop loss to a settle above
128.92. Ongoing uncertainty could
result in money moving into the U.S. Dollar and, so far,
the Euro has been the
first to be cast aside. Oddly, the fiscal cliff, which would be negative to the U.S. economy, would benefit the Dollar because of the reflexive
"risk-off" habit of market participants.
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