End of the decline?

The Euro has collapsed in the past 4 months. The trendline on the chart tells the whole story (click on the chart to enlarge it).

I find interesting the volume pattern. Volume has been soaring in the last month. Above average volume following a protracted decline suggests a near-term bottom and accumulation is possible. The Euro could consolidate around current levels.

The Euro will reverse its ugly trend if it breaks on the upside the trendline shown on the chart.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest

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