US Dollar on the Move – The Fall of the Mighty Euro

Posted by Visual Capitalist & Nadia Simmons of Sunshine Profits

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On the short term the US Dollar is rising against the Euro, which is sliding from a recent peak. The reasons a short sale is recommended for technical reasons was explained last thursday in full HERE by Nadia Simmons. Since then the Euro has fallen from 1.149 to 1.131 as of 7am PST today.

The longer term fundamental reasons for the US Dollar rise against the Euro are laid out by Visual Capitalist HERE

Short summaries of both analyses are below – Editor Money Talks


“Looking at the daily chart, we see that EUR/USD extended gains above the barrier of 1.400 and the 50% Fibonacci retracement, which resulted in a rally to the 61.8% Fibonacci retracement and the brown resistance line. Taking into account these resistance levels and the current position of the indicators (a negative divergence between the CCI and the exchange rate, the Stochastic Oscillator above the level of 80) we think that reversal is more likely than not.

Very short-term outlook: bearish
Short-term outlook: bearish
MT outlook: mixed with bearish bias
LT outlook: mixed”

…..for larger chart and more long term analysis go HERE

The Fall of the Mighty Euro

by The Visual Capitalist

The euro itself has dropped precipitously, particularly in terms of USD but also in terms of GBP and CNY. In the beginning of 2008, a US dollar could buy only €0.65 euros. Today, on average through 2015, one US dollar can buy €0.91 euros.

….click on the image or HERE for a larger view and more analysis: