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Wednesday, 17 December 2014

EUR/USD: cautious expectation that downtrend will continue

Click chart to enlarge.

At the top of an upswing, the chart indicates the Euro today swinging down against the US Dollar.

Some easing of the rate of the downtrend is seen in the recent oscillations, shaded on the chart.

The security is now in a strong Long-term Support Zone, but economic pressure surely continues to strengthen the Dollar against all comers.

Today's FOMC meeting can hardly stop the trend. We wait to see how low the present Downswing will go: will its bottom indicate a strengthening of the downswing, or further evidence of a parabola bottom forming?

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