EURUSD
The decline of the Euro is not a new event. A look at the weekly charts shows us a consistent decline from mid 2008, with prices managing new lows, and weaker highs on each major move. The most recent push up rose to just barely touch the resistance line, before falling back down, and is now poised for another run to 1.20. It seems that investors are looking elsewhere for growth.
USDJPY
The dollar’s multiyear downtrend against the yen has intensified over the past few months, as prices have fallen from 95 to 80 in just a few months. The recent dollar rally is barely recognizable in the broader time frame, and prices reversed last week, before even pulling back to resistance, which indicates the strength of the trend. The yen look read to retest the lows near 80, and the record lows which are just below. The carry trade is officially over, with the US dollar offering comparable interest rates.
EURCHF
The Euro has been falling relentlessly against the Swiss Franc, as prices have fallen from 1.67 in late 2007 to a low of 1.2750 in September 2010. The brief respite in 2009 was just a sideways consolidation, and in 2010 the downtrend has accelerated, with prices falling with a much steeper slope. This trend is likely to continue for the foreseeable future, with no sign of ebbing. Prior to this wave, the lowest the pair had reached was 1.45 which was tested in 1995, 2002, and 2008. The safety of the Swiss Franc seems to be particularly compelling to European investors.
Written by bforex.com
