Down With The Euro

04/30/13 11:54AM EDT

The Euro broke our TAIL line of support at 1.316 this morning and is capable of further downside, particularly if a rate cut is enacted by European Central Bank Chief Mario Draghi. All eyes remain on Europe and its de facto currency as the US dollar appreciates in value against it.

Down With The Euro - FXE ytd

© 2024 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.