The EURO has rebounded on the fib retracement 78.6% (1.15$) and has already left the support-zone to the top.
Hence it has entered the next wave - leading to prices above 1.20$. In that area we see a crossing point from a horizontal trend line and another descending trend line.
RSI and MACD have turned, with the trigger line above the signal line (orange). Much way to go before they´re reaching overbought areas.
Fundamentally the EURO should be weak, because it´s not very probable that Draghi will tighten the quantitative easing in next time; meanwhile the FED has already done some steps in raising interest rates and has announced some more in this year.
Therefor I expect the rally of the Euro to be short and I expect it to fall against the Dollar at the latest in autumn.
Hence it has entered the next wave - leading to prices above 1.20$. In that area we see a crossing point from a horizontal trend line and another descending trend line.
RSI and MACD have turned, with the trigger line above the signal line (orange). Much way to go before they´re reaching overbought areas.
Fundamentally the EURO should be weak, because it´s not very probable that Draghi will tighten the quantitative easing in next time; meanwhile the FED has already done some steps in raising interest rates and has announced some more in this year.
Therefor I expect the rally of the Euro to be short and I expect it to fall against the Dollar at the latest in autumn.