EURUSD Update: Dec 2, 2012

The overall trend since 2008 remains down, with EURUSD likely on its way to the .618 retracement (largest white pattern) of the rally from 2000 to 2008 at 1.12 in either January or (more likely) May 2013.

This lines up roughly with a 1.272 extension of the Jun 2010 to May 2011 rally (purple) and the 1.618 extension of the rally beginning in July 2012.

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