Big Day for the Euro

The Euro has rallied impressively through yet another resistance area.  We are now trading at the the level from the last breakdown.  The Euro is again at resistance from the top of the rising wedge, and the momentum indicators are waning and showing some divergence. 

The big news on Greece's confidence vote will come tonight, and it's anyone's guess what will happen.  A vote of confidence seems priced in.  Further, the FOMC meets this week and some are speculating that the Fed will hint at further easing given the recent collapse of macroeconomic variables.  I sincerely doubt that a 10% stock market correction will provide enough political cover for the Fed to act already.

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