This Pattern Forecasts a 1,500 Pip Drop Ahead for the Euro

The Euro has been forming a Head and Shoulders chart pattern since 2010. This suggests the euro zone’s currency peaked in 2008 and will continue to weaken.

Here’s a close-up…

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This year, the euro broke below the “neckline” of the pattern. It then bounced higher to re-test the neckline level (which is common for this pattern) before continuing its descent.

The Head and Shoulder pattern gives us a useful measuring tool. It suggests the euro could tumble as low as 1.1350 against the dollar (another 1,500 pips lower). That’s a full 30% drop in value from the height of the euro’s strength in 2008, when it took $1.60 to buy the euro.

Watch for our bullish U.S. dollar position to continue moving higher as the euro zone searches for a savior – socialist, technocrat or otherwise.

Harry Dent’s Most Disturbing Prediction in Years

Harry Dent, one of the most respected economists in the industry, has uncovered a disturbing market event that could soon devastate millions of investors. In short, he has undeniable proof that one of the market’s safest and most popular investments is about to get slaughtered… and it will have dire consequences for those who don’t prepare right away.

For full details on the event Harry’s dubbed as the “Safe-Asset Slaughter”… and to ensure you escape the coming carnage, I urge you to watch this special presentation.

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Categories: Economy

About Author

Adam O'Dell has one purpose in mind: to find and bring to subscribers investment opportunities that return the maximum profit with the minimum risk. Adam has worked as a Prop Trader for a spot Forex firm. While there, he learned the fundamentals of trading in the world’s largest market. He excelled at trading the volatile currency markets by seeking out low-risk entry points for trades with high profit potential. An MBA graduate and Affiliate Member of the Market Technicians Association, Adam is a lifelong student of the markets. He is editor of our hugely successful trading service, Cycle 9 Alert.