Kaustuv
Short

EURUSD long term downtrend

FX:EURUSD   Euro Fx/U.S. Dollar
34 0 1
Since 2008, the EURUSD             do pair has been in a downward channel.Current movements seem to allow for some correction of EURUSD             , however the long term trend of the EURUSD             goes only one way-down. Even if all hell breaks loose, the EURUSD             should not break the downward trend line and would at most reach 1.17-1.20 levels before falling, in years, to around 1.Another possibility is a free fall of EURUSD             below current downward channel, if something especially drastic takes place, such as an unraveling of derivatives market which may be caused if Greece defaults. What is key, however, is selecting an efficient point to enter a short. A probable opportunity would be a slowdown of current correction, and a corresponding increase in bollinger band width. What confirms the fact that any uptrend is merely a correction is this- bollinger band width increases during down moves, but reduces during up moves...
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