Euro Free Fall without Parachute to 1.10??? The friday the euro broke a very important support line at 1.1864, with a very strong down of more than 150 pips in less of 4 hours. Because of this, the horizontal fluctuation band, or as elliotician call this, a flat, is finished. Then we can say that the down trend is back, and the question is for how long. The channel lines in the graphic help. The past year the euro mades a high at 1.3666, will make a new lows till end of year? The Blue counting and the Red are similar, a difference in the degree of waves and the length of this down. The blue counting is a double zig zag, where the wave C is on progress, with target between 0.618 to 1 of (W). And the red shows a expanded flat wave X, with a wave ((c)) in progress, near to the bottoming.