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KrunchieKilleen
Jan 3, 2015 12:19 PM

EUR/USD continues dive Short

Euro Fx/U.S. DollarFXCM

Description

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.
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