Friday, December 19, 2008

Euro Runs into Textbook Technical Resistance

The euro went from $1.4239 to $1.3912 today, down 2.3%.
From Bespoke Investment Group:

...While technical analysis is often criticized as a method for 'lazy' traders who don't want to do in-depth research, charts like this show that even if you are a strict fundamental investor, you should always be aware of the major trends other traders are following.