The weekly chart gives good context to this move, looks like this is a major capitulation of shorts that started building heavily late in 2011. The eurozone collapse looks to have been averted for the moment, some stability seems to be returning.
- #735,483
- Dec 19, 2012 3:39am Dec 19, 2012 3:39am
- Joined Jan 2011 | Status: Ordinary Members | 10,684 Posts
Mohan 
- #735,484
- Dec 19, 2012 3:39am Dec 19, 2012 3:39am
- Joined Apr 2006 | Status: Trader | 1,480 Posts
In the days of old when sailors were bold, and seldom if ever contented.
- #735,485
- Dec 19, 2012 3:39am Dec 19, 2012 3:39am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
A pip is only worth it if you know how much you risked to earn it
- #735,486
- Dec 19, 2012 3:40am Dec 19, 2012 3:40am
- Joined Jan 2011 | Status: Ordinary Members | 10,684 Posts
Mohan 
- #735,487
- Dec 19, 2012 3:40am Dec 19, 2012 3:40am
- Joined Apr 2011 | Status: Liverpool's KOP | 8,022 Posts
Patience, Emotion Control and Discipline.
- #735,490
- Dec 19, 2012 3:43am Dec 19, 2012 3:43am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
New voice message: Why are you calling me? If I need you, I'll call you!
- #735,491
- Dec 19, 2012 3:44am Dec 19, 2012 3:44am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
90% of traders use TA, indicators and prediction
- #735,493
- Dec 19, 2012 3:45am Dec 19, 2012 3:45am
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
They think they are smarter than I am.
- #735,500
- Dec 19, 2012 3:50am Dec 19, 2012 3:50am
- Joined Jan 2011 | Status: Winning is my hobby! | 2,120 Posts