Where The EUR/USD Is Headed

I’ve provided a snapshot of the exact fib lines I am using to predict where the recent downtrend in the EUR/USD will eventually bottom out. This is exactly what I did to predict price action in Monday’s post which you can find under My Trades. As far as this current downtrend is concerned, I recommend jumping back into it around the 1.4140 area which is at the 38.2 fib level on the hourly chart.

Many experts along with myself have been waiting since November for this downtrend to finally materialize, so understand that this is a move that has been in the making for many months now. I expect to see this pair fall down to the 1.3900 area before another pullback and then continue on down to finish the fibonacci pattern to the 1.3500 area. Other analysts have said we should see 1.3800 in the next 2-3 weeks, and 1.3100 in the next 2-3 months! Either way you want to slice it, dont bother buying the EUR/USD. Remeber that the trend is your friend, and that’s never been truer!