The downward slope of the Euro
against the Dollar has accelerated. The pressures on the Euro
have increased. The ECB shows no sign of wanting to protect the Euro
, but rather relishes its decline in value. It has signalled a strong intention of proceeding with the purchase of €500 Billion worth of European Government bonds, and commentators expect that to be the minimum. The Swiss Frank has decoupled itself from the Euro
. The strenth of the US Dollar
against the world has increased. The ECB is expected to confirm the purchase of Government bonds at its meeting on Thursday next, which may send the Euro
vertically downwards. A reversal of the downward trend can't be expected in the next few months. Our Support Line will, no doubt, be breached and the Euro
will dive into the netherzone. I have removed my exit target of $1.10 and, instead, inserted a Trailing Stop at 2%. There may be a short bounce around $1.10 to $1.00. If so, I will allow the Trailing Stop to close my Position, which will be re-opened when the bounce is done.