KrunchieKilleen

Euro/USD: How low will it go?

FX:EURUSD   Euro Fx/U.S. Dollar
107 0 1
As I predicted in my previous post, the Euro             has begun to move down against the Dollar. How low will it go? Drawing simple trend lines, I suggest that it will slip to $1.285, before settling back at $1.33. It could go lower than $1.28 for a number of reasons:
* The momentum of the downswing may carry it further than the Support Lines suggest, and bring the norm down as well;
* EU sceptics triumphed in the recent European Parliament elections, renewing doubt over the future of the Euro             ;
* Lack of progress towards lifitng inflation means the ECB will consider reducing EU bank rate and support the slide in the value of the Euro             .
I also show 30 day and 50 day Moving Averages . Under Mark Shipman's (long-term investment) policy, we would not yet consider selling Euro             . However, by the time his Sell trigger comes into effect (Short-term MA moving under the longer-term MA), the Euro             will be bounding back.

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out