There are no reasons to buy the euro. Even if "hopium" comes back...traders aren't going to believe it this time no matter what Draghi or Merkel say. It worked over the summer and this fall....but traders are finally tired of hearing all talk and no action. You will continue to see the euro selloff now. Sell the Rallies(it's your safest trade, if we get any)! But make sure you don't just blindly enter a trade...have a reason to!
Euro falls to near two-month low versus dollar
The euro fell to a two-month low against a buoyant U.S. dollar and a one-month trough against the British pound on Monday on renewed uncertainty about the debt crisis as Greece faces a curcial parliamentary vote. The euro fell 0.4 percent to $1.2782, its lowest level since Sept 11, and breaking below a reported option barrier at $1.2800. Traders cited stop-loss sell orders below $1.2780. The euro also fell to a one-month low against sterling of 79.855 pence. The dollar index rose 0.2 percent to 80.755, rising past its 200-day moving average 80.672 to a two-month high. The dollar also rose to a near two-month high ... (full story)