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!