Further to my post below, I've shown what could happen on the
Daily chart of the
TF (see below) under an extreme bearish move if a
larger Head & Shoulders pattern completes up until the last
FOMC meeting this year on December 13...theoretically, price on the
TF could descend to around
678...or the infamous
666 level by then. Will those investors who are still long be saved from receiving only a "lump of coal" in their stockings for Xmas?
Which reminds me, I'm wondering how
Greece will grow its economy and increase household spending since it will have to tax its citizens heavily to pay for its debt burden...is
1.33 in the cards for the
EUR/USD before Xmas?...
(My friend mentioned the other the day that her family had Greek takeaway for dinner...this has a new meaning to me now!)
And, conversely, will the
US$ see
80.00 before Xmas?...
Bah...humbug!!!
