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Thursday, 21 May 2015

EUR/USD Correction made, Uptrend to Resume

On 1 Apr 2015, I dared to predict that the downtrend of the Euro against the US Dollar was at an end and that an uptrend would now start. I drew a blue triangle tentatively predicting an uptrend symmetrical to the finished downtrend. This was modified in my post of 16 Apr. Four days ago, I noted that the uptrend had become too steep and that there was plenty of scope for a correction. The correction, I reckon, has now finished, and the EUR/USD will resume its upward path.

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