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Thursday, 26 November 2015

EUR/USD bottoming out

Having risen for 6 months from Mar, the Euro  took a drop in October (when I went on holiday and) on news that US interest rates are to rise before year end, while Europe would continue its low rate policy. News that Great Britain is contemplating Euricide probably had no effect, since Sterling continues strong, Brexit is a long way off, and would be slow and negotiated in great detail.

I would guess  that the October down-trend is now bottoming out, but the re-emergence of its uptrend will be slow.

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