Further to my post below, I've shown what could happen on the Daily chart of the TF (see below) under an extreme bearish move if a larger Head & Shoulders pattern completes up until the last FOMC meeting this year on December 13...theoretically, price on the TF could descend to around 678...or the infamous 666 level by then. Will those investors who are still long be saved from receiving only a "lump of coal" in their stockings for Xmas?
Which reminds me, I'm wondering how Greece will grow its economy and increase household spending since it will have to tax its citizens heavily to pay for its debt burden...is 1.33 in the cards for the EUR/USD before Xmas?...(My friend mentioned the other the day that her family had Greek takeaway for dinner...this has a new meaning to me now!)
And, conversely, will the US$ see 80.00 before Xmas?...
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