It looks like here comes another chance for me to buy some cheap Euros for my trip in Europe in Jan-2011. Though I would not expect a slump as larch as that in May, I believe Euro could drop to around 1.2527 (61.8%-fibs).
EUR just broke the cyan uptrend line. Combining with a bearish divergence in MACD happened in July, I believe Euro would tumble. The big retreat in early August gave us the fibonacci projection on the chart. This projection gives us reference to predict how much Euro will drop --- 61.8% 1.25. The red lines form a short-term channel of movements in the near future.
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