The euro has done it again. Over night we saw another new low hit against the dollar. Each new low gives us more opportunities to profit.
But last night something historic happened. The euro passed it's all time median point at 1.2130. That means that out of all it's entire range for its complete history, it has now returned from its very high highs, to the very middle of its all time range. What were the heights from which it fell? 1.5100!
That means it has fallen 3000 pips, and has 3000 more to go to the bottom of it's range. That would place it at around .9000.
Now while it may not stretch that far on this move, it is certainly well within reason that it would move half that far to 1.0500. An I am inclined to think that as the year unfolds, that may certainly happen.
So hang on to your hats, and let's ride this baby as long as we can!
Happy Trading!
Bill Jenkins
www.thefxtradingmasters.com
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