my condolences to the EU on the death of its currency

Three fundamental factors driving this: higher probability of interest rate in the coming months in the US, sluggish economic indicators in the EU and Brexit uncertainty.

On the technical side, yearly, weekly and monthly trend down. Weekly and yearly fibonacci levels at 1.04527. Looking for an entry on a bounce up and closer to the blue trend line when given a smaller time frame reversal pattern down.

Take profit slightly higher than 1.04527.

Ordre annulé:

We got to our set up point but we did not get that reversal pattern we were waiting for to take the short. In fact all the contrary, we got a Three Inside Up candlestick pattern for further reversal up. I think we might still go down but the set up has been invalidated. Wait for a new set up.