Strategy Video: Euro Rally Strong but Will it Endure?
• EURUSD has rallied six straight days for the first time in 16 months and volume hit a 4.5 year high
• The Euro has rebound convincingly with 'hope for a Greece deal' a fundamental justification for bulls
• Yet, even if Greece finds relief, the Euro's fundamental backdrop is far from bullish
Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.
There is no doubting the power of the Euro's recent rebound. EURUSD has marked its most persistent climb since the end of 2013 and volume has swollen to levels not seen since 2010. Other Euro-based crosses have experienced similarly impressive bids on the common currency, showing the breadth and source of the move. Yet, intense moves do not guarantee trends. Fundamentals are important for conviction. Easing tensions on Greece represents a banner for bulls to rally behind. Yet, a break in the deadlock for the country does not mean its troubles are over. Moreover, Greece isn't even the primary weight on the Euro. We focus on the Euro and the longevity of its recent advance in today's Strategy Video.
Sign up for John’s email distribution list, here.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.