FX:EURUSD Euro Fx/U.S. Dollar
Looking back over the Euro's history, we can define a "Normal Range" within which it performed for most of its life, as well as a "Below-normal" and an "Above-normal" range. The present trend lines are converging, which means that the graph must, within the next few months, break through either the Support Line or the Resistance Line. If we accept as most probable that it will stay within the Normal range, then a Break-out through the Support Line is most probable. There is scope for an upswing before the Support Line is finally attacked. While the Euro has plunged after each of the last few ECB meetings, this may be less likely from the October meeting, since it is unlkely to announce any new measures not already signalled at the September meeting.