As we close out this year, several major themes have emerged to characterize the year 2010 from a technical price action perspective. For one, there was dramatic euro weakness. The euro dropped considerably against all of its major counterparts (USD, JPY, GBP, CHF, AUD, and CAD) through the course of the year. Moreover, the magnitude of its losses against its counterparts crowns the euro as the worst-performing currency of 2010, by far. This trend appears likely to continue into 2011. For more of the Forex 2010 Year-End Review, please click here.
James Chen, CTA, CMT