DislikedWell, it seems that EURUSD will head down and down again in the months to come.
I believe it will decline lower at least until EURUSD 1.2800 (just my personal view), since the monthly upward trendline was broken at around 1.44-1.45.
In theory, the movement should extend at least down to 1.2800 (1,600 pips, equal to the width of the ascending triangle (from 1.6000 to 1.444).
I guess the large speculators are right after all (as can be seen from the CFTC reports). The source of the chart presented is timingcharts.com.
However, maybe we'll see some retracement in the next few days as there has hardly been any since the steep decline from 1.60, and it appears that there is a divergence between price and MACD histogram. However, I would definetely just short this pair in the months to come.
Anyway, the theory is simpler than practice as you can lose money in this market both if you are right regarding the direction and both if you are wrong so there are no certainties.
Good luck and all the best,
BogdanIgnored
Do I hear parity?
Going once... Twice...
