It seems the Greek Tragedy has been seen as a fait accompli for quite awhile now.
Look at the dollar today.
More then just Greece, the downgrades coming in on French and other Banks are putting the Euro under a lot of pressure.
Wednesday, June 15, 2011
US Dollar
I've probably written over a dozen posts showing accumulation the $USD via UUP a a proxy for the Dollar over the last 3 weeks or so.
It seems the Greek Tragedy has been seen as a fait accompli for quite awhile now.
Look at the dollar today.
The dollar has pretty much broken through the intermediate term downtrend on a move of 1.65% today!
The FXE was showing distribution at the same time the dollar was under accumulation. The final negative divergence and reversal signal came as usual on a false breakout in the red box.
And FXE (The Euro) today... -1.86%
More then just Greece, the downgrades coming in on French and other Banks are putting the Euro under a lot of pressure.
It seems the Greek Tragedy has been seen as a fait accompli for quite awhile now.
Look at the dollar today.
More then just Greece, the downgrades coming in on French and other Banks are putting the Euro under a lot of pressure.
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