I would say it Bottomed out. I garantee you Eur/Usd will shout up to 1.2000 in the next few months. An up trend has just started. I have been placing a 10 lot Buy trade everyday since last friday and setting my take profit at 1.2300
The long term time frames suggest were are in the bottom.
On one hand we have the FED that always say they think about hiking rates, but never do it. You bet, the US economy is so phony, full of part time jobs/ government jobs / 50m people on food stamps. They are too dependent of low rates to afford to increase it, otherwise the burden of debt would be unbearable.
On the other hand, we have
1/ Europe with no governance whatsoever and their banks overleveraged and insolvent. If/When there will be a Lehman's style liquidity crisis, the value of the EU will jump tens of thousands pips.
2/ Do you think greek people will have faith in their new toilet-paper currency? They will load up with EUR, at least in the short run.
EUR can go down so far as QE is in play in ECB. Historical charts shows that its at a bottom, but as a whole EURO doesn't have much history to talk about, survival through peeks and troughs. I think there will be a short up run if Greece issue is resolved.
