Euro's slide under its 200-day moving average is part of traders' wake-up call

The euro could have bounced from its 200-day moving average, even briefly. But it didn't, and that's a wake-up call to traders to take seriously the stock market turn we've been expecting. (In separate news, Tony Caldaro has marked a wave crest top for Google at page (19) of his public charts - navigate from his site link in the lists at right). Now, it's possible the euro could stage a bounce that could help equities push a bit higher as we've also been thinking. But it would probably only get the euro testing its 200-day MA from the underside. Then another drop from that, could send the euro down much deeper than many currently expect. We've even seen one target at about 112 on the $XEU/FXE chart. Brrrrr!