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Wednesday, 8 October 2014

Euro to rebound

The Euro has touched bottom (i.e., Support Line) against the US Dollar and may be about to rebound. This is indicated by the Chart. Contrary indications are that the Sterling and US Dollar areas will be seeing increases in interest rates in the coming months, which should tend to depress the EUR/USD and EUR/GBP further. For the moment, the Euro seems to be finished its downtrend against the Dollar and may be about to commence an uptrend.

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