EUR/USD - Are We Due For a Tumble to $1.20?

I'll read over your thread, Pabst, but, briefly, when you say, "The dollar low is in," you mean the USD is headed higher?

Or lower?

 

Use your considerable intelligence. If the low is in that means higher, eh? Dollar low in = Dollar goes higher means EUR goes down.

 

could go back to 1.80

 

Then, you're agreeing... we're headed towards $1.20...?

 

your chart looks nothing like mine

 

<img src="http://daemos.ath.cx/stuff/06/eurojuly01.png">

maybe a probe of 2700-2730 first

 

will be interesting to see if it goes much higher, probabilities are stacked against that but then hey, the market can stay irrational longer than a trader can stay solvent.

 

Those 5 solid white lines on your chart are not trendlines. An UP trendline connects (higher) lows, not highs. A DOWN trendline connects (lower) highs, not lows.

The horizontal lines at the bottom are not trendlines, either, nor are they support or resistance. Other than representing a round number 7 handles away, those horizontal lines have no apparent meaning.

 

follow the white brick trendlines..

 

still looks like downward pressures coming, to me..