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The Euro Has Landed

Originally posted at Capitalstool.

The euro has broken down against the doolah, and is now indeed targeting parity on the daily chart.

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However, when you look at the very long term view, calculating conventional measured move targets from the broken top and consolidation patterns, results in a target range of 0.75-0.80.

Ultimately, it depends on the relative tightness of the Fed vs. the ECB. As long as the Fed is tighter than the ECB, the euro will weaken against the dollar.

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