After 1 year of short movement did we hit the bottom from now?
If we look at the fall of Euro in 2008 and 2009 it was shorter in time compared with the 2014 down movement. This last down movement has been long and profitable but maybe its time has ended. Is it a reversal? Let's see.
From 2008 till now the Euro movements didn't broke the draw channel (red) and...
RSI still going up.
Two short positions placed at .618 and .764 from last down movement.
Probably only .618 will work as last leg down touch it (Jan 2015) and bounce making it a good area for support/resistance.
.764 placed just because it may get there purely by stop hunters as so many are already short and a small support/resistance formed during the retracement...
