Thursday, 12 March 2015
EUR/USD: Is this the bottom?
This time last year, the Euro seemed unstoppable in its ascent against the US Dollar, but I called that a downtrend was imminent. Now the down-plunge might seem unstoppable, and EUR/USD has plunged past the end-target I set in my last post (viz., $1.075), and reached this point several weeks earlier than expected. However, I feel that the market will form the view that it has fallen far enough (c. 23% since last April), and that now an upward trend will commence.