EURUSD Gets Ready for a 3,500 PIP Move South

FX:EURUSD   Euro / U.S. Dollar
The EURUSD             has been recently trying to retrace after a massive 3,500 PIP drop from May of 2014. During this retracement, a nice Flag/Channel was created and then broken to the down side.
Most recently the bottom of the channel has been retested and it looks like the EURUSD             is ready for the repeat of history in one of the greatest free-falls in a while.

The measured objective leaves our target at 0.8225.

This multi-year Flag Pattern will be nice if the market can push it down further with some conviction and create the wave structure needed for a bearish channel of that magnitude. Will really be awesome to hop aboard this train and ride it all the way down to that low of Year 2000!
That is a very bold projection....
+1 Reply
SubTh3ory Yahia.Awes
Sure, but it's based off of several layers of Price Action confluence. This kind of speculation is what makes us successful as traders in the long run.
SubTh3ory Yahia.Awes
I also forgot to mention in this post that this 0.8225 also happens to be the low of 2000. I need to update this.
In fact, I may make another post to point this out as it's pretty important.
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