The euro’s knockdown today is one story but it’s relative position against fellow europeans – the pound and the swiss tell a slightly different tale.

EURGBP looks to be a decent buy down to trend line support at 0.8600 which happens to be almost the 0.236 of 2013 low to high ! target 0.8800 and stations north. Sterling’s comparative weakness should ensure the move methinks: I am not alone – heard a couple of banks of the same view.


EURCHF: anyone following my posts this week will be aware of my fondness for this pair.

In the earlier panic of the week we traded down to approx 1.2120 and have gently recovered composure, just as Mr Jordan may have wanted. The trade is a no-brainer as a buy on dips and a break above the upper resistance trendline should give much more encouragement to the shaky !