Just over a month ago, our chart of the week featured a "bearish call" on the pan-European currency, the euro.
You can read Steve's case for a weaker euro here. And you can see it playing out in stunning fashion with this week's chart. The euro is suffering one of the greatest short-term declines a major currency has ever seen.
What does the euro's fall mean? Expect financial headlines in Spain, Italy, France, and Germany to get much weaker. Expect European interest rates to fall.
And given the increase in purchasing power of the U.S. dollar versus the euro, consider planning your next European vacation...
– Brian Hunt
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