The Euro In Free-Fall | Armstrong Economics–Deflation Now–Chaos and Collapse Ahead

IBEUUS-M 1-6-2015

The Euro elected the Yearly Bearish Reversal at the 12150 area and it has penetrated the 2010 low so far of 11880 intraday reaching so far 11801. The key support lies at a set of DOUBLE WEEKLY BEARISH REVERSALS found at 11778. If we elect that this year, the Euro will fall most likely BELOW par to the 103 area. We do have Weekly Bearish Reversals at 11850 and 11640. A weekly closing below 11640 will be devastating.

This is all part of the game at foot. I have warned the dollar had to rise and this will TURN DOWN the US economy later this year. Welcome the return of volatility. The banks may be able to trade proprietary again as they technically establish internal hedge funds for their own money, yet the real problem is emerging the lack of liquidity. You can raise heaps of cash these days. But the markets are returning to their infancy – lack of participants leading to more and more illiquidity, which translates into higher volatility. Now only a weekly closing back above the 12510 area will suspend the free fall temporarily.

via The Euro In Free-Fall | Armstrong Economics.

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