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Friday, 6 March 2015

EUR/USD downtrend to end soon

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The pattern of the Euro against the US Dollar since 1993, indicated by existing (dotted blue) and projected (dotted amber) trend lines indicate that the downtrend will end at around $1.075, to be reached, perhaps in April 2015. While economic forces at present seem to indicate pressure on the EUR/USD to continue downwards, economic data (such as energy prices) can change suddenly. For me, $1.08 is a cautious exit point to my short position, from where to watch for the commencement of the Euro bounce-back, the ensuing uptrend to continue through 2016 and 2017.

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