The USD/EUR etf EUO spiked 2% today — surpassing 20 year highs (US Dollar Index) and from a technical stand point, it’s overstretched.
James carter from chart master pointed the fact it feels everyone is on the same side trade.
As a result, I am getting flashbacks of oil futures and how quickly it dropped from all time highs.
I sell this falling below 33 as July comes to an end and earning season is behind us.
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