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Friday, 25 July 2014

140725 EUR/USD plunges

The EUR/USD has plunged again.

Click on image for a larger view.

Where will the present downtrend of the EUR/USD end? Looking at the long-term chart (since 1990), whichever line we take (A or B) as the Support Line, the downtrend has a long way to go yet: probably as far as $1.3022 at least. What could abort the downtrend in the meantime? A reversal of policy of the ECB; worse than expected performance of the US economy with extension of quantitive easing, or better than expected financial peformance in Europe.

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