Just below the market lurks the 38.2% retracement of the lifetime range of the euro. Since 1999, the euro has traded in a range from 0.8225 to 1.6038. We’ve lost nearly 40% of that in just three months. Extraordinary. Normally a Fibo of that magnitude would be a major support. I get the sense that the market has so much momentum that a break will merely accelerate to the downside once 1.3055 is lost.
That probably means you should cover every short and drain the 401k to buy EUR/USD!
