Euro currency loses over 5 percent in May +843 Pips Profit

by Joe Oliver, Forex Trading-Pips

Euro currency lost over 5 percent in value to the US dollar in May as investors and Central banks in emerging markets have been dumping the currency en masse. Central banks normally buy the single currency when it weakens so as to diversify their holdings of foreign exchange reserves. According to a recent FT article Bank of America Merrill Lynch trading records showed that central banks sold euros at an ‘unusually rapid rate’ in May.

Forex Trading Pips Signals Program caught the euro sell off nicely over the past few months. Our Inter-market component booked 843 pips in Euro currency this morning, whilst our trend following competent is currently sitting on over 500 pips profit.

Euro Inter-market Signals, please click chart to enlarge.

Euro currency recent trades, daily bars

Euro currency recent trades, daily bars

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