I have a short position on FXE (the ETF for EUR/USD) which I think has a good chance of slipping much lower. (It occurs to me the chart below is actually of the EUR/USD, not the FXE, but I assure you the pattern is the same). We’ve been meanandering around aimlessly for months, but I think a breakdown similar to the one which took place with the prior rounded rectangle is most likely. Of course, tomorrow’s Fed announcement will probably resolve this question swiftly.
