The acceleration in the Euro's downtrend against the US Dollar is indicated by Resistance Line R1. I attempt to project the Moving Average (30 Day) forward. The price will stay below the MA for the present. Our target is $1.06 by mid August. Next week's upswing, when it is clear that Greece is remaining in the Euro-zone, may cause a breach of line R1, but the downtrend, fuelled by expectation of American interest rising, will continue.