Ummm, it seems to me the Euro doesn't know what to do with itself. Below is just last night.
I don't trade FOREX due to the leverage. I tried it twice and failed twice. Never again. But I imagine among those who do trade FOREX have had one of the most extraordinary 20 hours in the lifetime of their accounts. For some, fortunes were made; for others, their account has been wiped out. It would be incredibly easy to get whipsawed to death with a chart like the one above.
Looking at the candlestick daily chart, the action so far suggests that the Euro run-up may be drawing to a close, although with the insane action from last night, who knows where things will finish.
The fact that China is allowing its currency to (slightly) float has thrown everything into a tizzy. To me, China is principally interested in one country: China. I think their actions are going to be entirely directed toward their benefit (logically enough), so the entire world going into a orgiastic screams about how great its going to be for their own economy seems a bit overdone.
