Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

EURUSD To Fall Below 1.2870

|Includes: iPath EUR/USD Exchange Rate ETN (ERO)

Magenta line (see my first post on more details on this) reached the top of a channel on EURUSD (NYSEARCA:ERO) and I expect to fall over the next few weeks. Right now EURUSD is 1.3222 and if magenta reaches the bottom of the channel by next week (unlikely) EURUSD will go down to at least 1.2870. If it will take longer (probably) it will fall more.