You should still take close look at the chart and details including some additional charts in the comments in the last chart to save repeating here.
With above in mind, now would be a good time to consider reasons why we should look for evidence of this low being respected. Rather than be carried over with over exuberance Anti - EURUSD fever and EUR bashing. This is not to say that the Eurozone itself is out on the woods yet but a decent retracement is in order at the minimum and that it could be at the inflection point with potential reversal on the horizon.
1. is now supportive of EURUSD gaining Vs USD Check the link : http://www.equityclock.com/charts/euro-forex-fxeur-seasonal-chart/
2. Commitment of Traders report of 18th Nov 2014 seems to be suggesting longs reducing position and shorts increasing which I suspect has gone more extreme. The scheduled report on Monday (normally released on Friday but due to holiday on Thursday is delayed) will likely confirm - Link: http://www.cftc.gov/dea/futures/deacmesf.htm
3. Overwhelming, traders sentiments is very which in it self cannot help time the market precisely but add to overall analysis when considered in conjunction with other factors.
4. In the intermarket & correlation analysis it seems that DXY could have topped at critical level I will post this chart in the comments section with both daily and intraday hourly chart which if correct would also confirm corresponding bottom in EURUSD .
As this is long range analysis, it is not possible to pinpoint exact level but only identify general area of interest.
Any trades should be based on your own analysis and confirmation with suitable money management.
If you have viable alternatives rather than just saying EUR is doomed, please share it with me.
If have not already select to follow me and the chart for future updates and comments.
Thanks for you time reading through my analysis.
=>Eurozone manufacturing PMI data approached contraction levels at 50.1 for November, beneath forecasts for an unchanged print at the flash post of 50.4. Italy, Germany and France factory PMI posts all fell below the 50 level, signaling contraction. Investors have been divided on likely results of Thursday’s ECB policy decision. ECB President Draghi’s remarks asserting the central bank would take steps to fight deflation “without delay” and “…do what we must do to raise inflation and inflationary expectations as fast as possible” had initially driven expectations for a full-blown package of quantitative easing. However, follow-on assertions by ECB Vice President Vitor Constancio noted the region not at risk of full-blown deflation and suggested policymakers may await indications of prior measures’ success before initiating new actions, perhaps in Q12015. Today’s gains in European bourses appear the result of QE hopes, however. The euro is trading 0.2% lower against the dollar.
Europe is indeed the old, sluggish continent of the world that lags...Thank God for the US, or we would be in a world wide recession once again. ECB can't make the same swift actions, like the FED does. We are years behind, and now pay the cost. Here and there, you might see a technical bounce, but overall the trend will be down for the foreseeable future. Just my opinion.
Worth reading=> http://www.zerohedge.com/news/2014-12-01/last-time-euro-hit-these-levels-europe-was-total-collapse.
Thanks for your continuing input on tradingview anyway, even if I don't agree.