That massive decline has dragged the price towards the lower boundary of the channel. Bulls have little room to defend their 5 month defense line. If the channel is broken followed by a breakout of the 154.8 swing low, we wil expect the price to fall to at least the June lows at 148.16. A decline in European bond prices means an increase in yields which will support rising trend in Euro crosses and a decline in European stock markets.
Cyclical Waves Group