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.