Euro Positioned for Major Plummet

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Last week, I mentioned key support levels on the Euro, and once those were broken, the Euro fell hard. 

This week, thanks to the non-stop "everything is fine!" string of announcements from European leaders, the currency has sprung back strong. But take a look at this very interesting little chart I've put together:


So we have, in both 2009 and 2011:

(1) A steadily rising trend;

(2) A break in the trendline (red arrow);

(3) A swift fall;

(4) A recovery back to the last major support level (green arrow)

Beginning in January 2010, this is the exact sequence which presaged a huge, huge fall in the Euro. It'll be interesting, to say the least, to see if history repeats itself.