Currency Crossroads

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The US dollar has been in a free-fall for pretty much all of 2011, but there's a chance it might be reaching a crossroads. The EUR/USD graph below shows that the surge in the Euro's value is reaching (1) a descending trendline; (2) a Fibonacci fan line (3) the most recent medium-term top, from November 3 of last year.

Of course, the Euro could just keep soaring, but this confluence of possible resistance levels is worth noting.


As you might guess, I'm not in the chattiest of moods right now, so this is probably my final post today. I'll put up any guest posts that happen to come up later. Good night.