EUR/USD to bounce back

FX:EURUSD   Euro / U.S. Dollar
198 4
On first sight, it appears that EUR/USD has decided to continue its downward trend, continuing Option B as its Resistance Line. The fundamentals indicate otherwise, however. US interest rates are not to rise this year (according to the FED on Wednesday last); US trade is suffering from the high value of the Dollar; EU economies are picking up, while the US recovery is slowing down. The pressures are now on the US Dollar to fall against other securities, even while USA share-prices hold steady (for the moment). Watch EUR/USD now bounce off Line C to jump back into an upward trend.
+1 Reply
You must be on some kind of drugs.
-1 Reply
IvanLabrie Talk_Forex96
Was he?
-1 Reply
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