Euro / US Dollar: Is the Down Trend Over?

The Euro has rallied decisively against the US Dollar this week, initially encouraged by a rebound in risky assets and boosted by news that the US Federal Reserve will buy $300 billion in Treasuries to lower long-term borrowing costs, weighing on yields paid on dollar-denominated assets. While the upswing has been impressive, evidence continues to suggest that it is a correction in the context of a larger downtrend rather than a sustainable rebound