EURUSD - where are we heading ?

3. Okt. 2014Keeping in mind that the ECB and Europe want a weaker EUR to increase export, chances are high that the downtrend has not come to an end yet.

I've been drawing in some Fibonacci extensions and retracements in order to try and find out what is most likely to happen to the EURUSD if it breaks below the current level, and I have identified 3 price levels where we have quite some Fib confluence. An AB=CD pattern would end up right in the middle of those ...

Of course, only the market knows where it will go, and this chart is far from an accurate prediction. I'm just curious where it will lead us in the long run.