KrunchieKilleen

EUR/USD: Where is the end of the down-trend?

FX:EURUSD   Euro Fx/U.S. Dollar
321 0 5
Since April 2014 the Euro             has fallen nearly 15% against the US Dollar             and continues to trend strongly down. When it reaches Support Line C, it will have fallen by 21%. The strength of its downward momentum might carry it right through this Support LIne. The reversal, when it comes, is likely to be quite sudden. The last down-trend (though not as steeply sloped as the current one) did not make it to Support Line C, so it is possible, if not very probable, that the present one will stop somewhat short of the target. It would be advisable to have a Trailing Stop in place in anticipation of a sudden reversal. Correction to the notation on the above Chart: swings of up to 2% are to be anticipated within the down-trend, so the Trailing Stop should be around 3% now, but reducing as our target gets nearer.
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