Forex Trading: Europe Crisis Intensifies

by Joe Oliver, Forex Trading-Pips

Forex Trading: The US$ traded higher versus most major currencies on Wednesday as the crisis in Europe continues to intensify. France and other core nations of the EMU are coming under investor scrutiny after a slump in euro-area debt signaled the region’s debt crisis is spreading.  Rates on France’s 5 and 10 year debt have risen sharply with the spread on French 10-year  debt over German bunds rising to 191 basis points.

Technically the euro is in a clear downtrend with each major swing high coming in lower than the previous over the past 7 months. Strength to be sold rather than weakness bought.

Forex Trading, euro daily bars

Forex Trading, euro daily bars