A Eurodollar breakout?
The EUR/USD cross has finalised a descending triangle reversal pattern, but has surprised to the upside. This is a mixed signal at best, as the longer term weekly chart below shows significant resistance at 1.50 to the upside, and the usual status of the EUR is to weaken during a crisis (i.e a run back to the USD).
Weekly chart - click to enlarge full size
What would you prefer to own these days? Euro or US dollars? Or Swiss Franc, which is now weakening against the EUR and the USD, breaking out against both?
EUR and USD vs CHF (Swiss Franc) - click to enlarge full size