FX:EURUSD   Euro Fx/U.S. Dollar
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Early in March 2015, I predicted an uptrend of the Euro             against the US Dollar             , on the basis that the Dollar had risen too high. I sketched a rebound of EUR/USD             potentially symmetrical to its previous downtrend (blue triangle). I offered the opinion that the Greek crisis would not prevent the rise of EUR/USD             , because it was not about the Euro             , but about the Dollar. Then came better news of the American economy and talk of an imminent end to ZIRP, possibly as early as Sep 2015. Rising American interest rate , while Euro             clings to ZIRP would kill the EUR/USD             rebound. All eyes were on Janet Yellen yesterday, with the expectation that interest rate rise would be indicated from September. Instead, she indicated a continuance of Zero interest rate for the present. As a result, EUR/USD             spiked. However, in Europe the Financial Ministers meet today again with no end in sight to the Greek crisis. Today should see a reversal of yesterday's spike, even if temporary.
Excellent review and analysis.
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I am flattered.
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