Thursday, 2 July 2015
EUR/USD Downtrend accellerating
The acceleration in the Euro's downtrend against the US Dollar is indicated by Resistance Line R1.
I attempt to project the Moving Average (30 Day) forward (paler green line).
The price will stay below the MA for the present.
Our target is $1.06 by mid August.
Next week's upswing, when it is clear that Greece is remaining in the Euro-zone, may cause a breach of line R1, but the downtrend, fuelled by expectation of American interest rising, will continue.