In my previous two posts, I dwelt on the long-term prospects of the Euro against the US Dollar , and predicted that the year-long downtrend would soon give way to an uptrend. Today, I focus on the medium-term. The downtrend has followed a pattern of plunges followed by levelling, as I illustrate with the triangle shapes in the chart. The plunge of the last 10 days having come to an end, we will now see a levelling, or slightly rising period, which could extend up to May. The graph also shows a 50 day . The levelling tends to come to an end when the graph licks this , which could happen before May actually arrives. Next time the graph and MA collide, however, will be a signal, not for another plunge, but for the uptrend to begin in earnest.