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Seems that you were right. This will be either a double bottom or another break down
If it break bellow 1.0500 instead of making double bottom, then it 1.0000 will be reached next week
If it break bellow 1.0500 instead of making double bottom, then it 1.0000 will be reached next week
Double bottom is here - 1.0000 next week
Double bottom is here - 1.0000 next week
This is no double bottom
This is plain and simple destruction of Euro. Pushing the Euro lower on Friday instead of collecting profits is clear enough message : no bottom at sight yet
This is no double bottom This is plain and simple destruction of Euro. Pushing the Euro lower on Friday instead of collecting profits is clear enough message : no bottom at sight yet
Draghi doing his "job"
:):)
The EUR/USD broke under the 1.05 level in the end of the day and seems to be that it will close under the 1.0490.
The eur/usd hit fresh low almost everyday this week, Today's disappointing US data was not enough to stop the bearish trend. The bearish trend has extended for 9 months in a row now, the question here is how far can it go?
At this point, particularly with FOMC meeting next week, parity may happen sooner than we expected.
At this point, particularly with FOMC meeting next week, parity may happen sooner than we expected.
Parity next week - Germans are talking that weak Euro is good for EU (German) companies, which means just one thing : EU (Germans) are going to push Euro more down
I too am almost certain that EUR/USD will reach parity sometime soon, but with the way things are going I think it might drop even below 1.000.
We all should count on momentum. Once it reaches 1.00000 there is no way that it does not go bellow it. But then starts the danger zone. From 0.99999 there will be some wild volatility (up and down, profit collecting from some larger order holders will make EURUSD jump around like crazy)