Less Bang for your Euro

The Euro is in deep trouble, and it looks like it's about to get deeper.

5 yr. chart
click to enlarge
Theoretically it could chop up to the top of it's more recent range around 116, but with US Treas
collapsing and yields ripping it seems unlikely.

T Note 5 yr chart

A little off topic but not really; check out this long term chart of the 10 Yr.

 Sure looks like a head and shoulders top.  And it's a long long way down.

Anyway back to the Euro.
 17 Yr Chart
 click to enlarge
 Interesting Fib calculations;
.78 retrace of the .8245 2000 low to the high of 2008 at 1.5988 (note the actual fib numbers you can quickly guess the outcome) is .9955

And a measured C=A down from the highs with C beginning at 1.40 targets 1.00 

Why do we care? German price for Reg; about $5.00 a gallon


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