There was a ton of action in the euro. Overnight, it had resistance at the 1.4696 level, which it usually finds at whole numbers. We have been bullish on the euro and it continued once again. You must be patient as it retraced all morning and exploded off the 60 minute bottom bollinger band. Clearly, the Fed’s decision to end the bond-buying program hurt the dollar and was bullish for the euro. It is currently trading at 1.4475 and is still rising after the 3:00 close. The daily chart looks as strong as ever, and the next major level is about 1.5000 which is the 76% retracement from the all-time high.
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