Tuesday, 7 July 2015
EUR/USD Downtrend to moderate or reverse
Perhaps the Euro has fallen far enough against the US Dollar.
Leaving out the Down-spike of 26 June (Euro sell-off on Asian markets), the Support Line S1 is tending to converge with Resistance Line R1.
The Parabolic S line may be a better indicator of the Support Level.
The price, moreover, has moved far enough away from the Moving Average to warrant a move back.