On the flip side, Euro has been collapsing from the peaks of May 2014 (almost more than 23%) although some stability was seen from mid April’15 but still there is no trace of recovery despite all attempts by euro area leaders.
(14) on weekly chart converging with falling prices (Currently, trending at 43.6244). This leading oscillator has started evaluating when the prices touched 1.0885 by taking the computation of last 14 weeks periods the magnitude of recent gains to recent losses in an attempt to signifying the overbought pressures.
While %D crossover has been maintained on slow curve with every price dips (Currently, %D line at 33.3332, while %K line at 17.7829). on monthly curve also remains in the oversold territory but proper trace of %K crossover that signifies weakness in the euro .
Hence, we still project 1.10 for end-2015, a cyclical low of 1.08 in Q1 2016, and a slow uptick from there to 1.11 by June 2016 and 1.13 by Q3 2016.