EURUSD TO DROP SHARPLY

EURUSD IN DANGER OF A SHARP DROP

If it looks like a duck...and if we apply the duck test here...then this pattern looks like a head and shoulders top. The daily chart of EURUSD shows it sitting on the neckline and if it goes through it should open the way for a test of the July 2012 low at +-1.2000. The InvesTRAC short term model shows that the technicals are pointing down and the forecast is for weakness to continue into November.