long term down trend still not broken. QE from ECB is accelerating the downtrend movement. recent trend is showing a bearish butterfly. the downside could be looking at 1.02-1.05 range if the bearish butterfly completed. there is also chance that the EURUSD rebound to 1.21-1.22 range and then resume the downtrend. over the long term. chances are the EURUSD may see trading at near par at end of the 2016.
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FXKOPPA
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Thats my stance , very similar but not with technical reasons , somehow with the price and market condition ,