Click image to enlarge.
The pattern of the Euro against the US Dollar since 1993, indicated by existing (dotted blue) and projected (dotted amber) trend lines indicate that the downtrend will end at around $1.075, to be reached, perhaps in April 2015. While economic forces at present seem to indicate pressure on the EUR/USD to continue downwards, economic data (such as energy prices) can change suddenly. For me, $1.08 is a cautious exit point to my short position, from where to watch for the commencement of the Euro bounce-back, the ensuing uptrend to continue through 2016 and 2017.
No comments:
Post a Comment