Saturday, 11 April 2015
EUR/USD to bounce back
On first sight, it appears that EUR/USD has decided to continue its downward trend, continuing Option B as its Resistance Line. The fundamentals indicate otherwise, however. US interest rates are not to rise this year (according to the FED on Wednesday last); US trade is suffering from the high value of the Dollar; EU economies are picking up, while the US recovery is slowing down. The pressures are now on the US Dollar to fall against other securities, even while USA share-prices hold steady (for the moment). Watch EUR/USD now bounce off Line C to jump back into an upward trend.