Sunday, 17 May 2015
EUR/USD: Scope for moderation of uptrend
Click on image to enlarge.
Line B is parallel to previous up-slope A. The present upslope is much steeper. While the 30-month Moving Average suggests that there is a long way to go before the up-slope needs to be corrected by a significant down-swing, the scope for down-swings is significant. A downswing could be triggered by a political event, such as Greek default.