Fib levels was cut off. sorry.
Trader who is long asked my opinion. Well here it is...
As oil will be severely challenged in price going into 2017, this is making a platform for new highs, LT. However, there is reaction bounces and rejections that we can profit from. Here is one.
Oil's descent into the abyss will put pressure on EU banks, which are already in a shambles, this will undoubtedly put pressure on the EUR. I think it can sink to fib .382 looking at the monthly chart.
Extended short. EU collapse. Part of my 2000-Pip-Project
This is the daily of my EU crisis trade. I'm short the EURUSD and others including this.
EU banking crisis cometh.