The Downtrend of the Euro
against the US Dollar
that began in April
2014 continues unabated. The movement is spectacularly smooth, reminiscent of (though not quite as steep as) Downtrend B of 2008, which brought the value from a high of $1.57 right down to $1.27. Since the American Economy continues to strengthen (while Europe languishes) and the end of ZIRP in the Dollar zone (but not in the Euro
Zone) is inevitable, and Long-term Support Line A is decisively breached, there seems to be nothing to stop the downtrend along Line D until $1.1, or thereabouts, is reached.