Euro Blasts Higher Collapses Already

Inquiring minds are looking beyond huge stock market gains to the actual "Defense of the Euro" plan. In terms of defense, at least so far, the results are less than awe-inspiring.

15 Minute Chart - Euro vs. Dollar




60 Minute Chart - Euro vs. Dollar



After blasting higher starting at 7:00 PM yesterday through 3:30 AM this morning, from a low near 1.28 to a high near 1.31, the Euro has retraced nearly all of those gains.

60 Minute Chart - US Dollar Index



OK Jean-Claude Trichet, when does the shock and awe currency intervention madness start?

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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