EURUSD. Roadmap for a Doom

As soon as Bremain is getting closer, EURUSD pair is being pushed higher. It made 3 figures in a month prior to the Brexit Referendum and should be catapulted up once Bremain is confirmed officially. Projection made on the 24.06.2016, 0.00 hours CET shows 1.16 can be reached by the 25th of June and 1.17-1.18 by the following week. The ending target is around 1.20 which would close a small gap from DEC 2014.

If this happens, it is confirmed that a huge wave down which was produced between 2014 and 2015 was Wave 3. Therefore, the Parity with US Dollar is only question of a very short time, in case of a negative scenario for EUR, by the beginning of 2017.

I hereby quote my projection for the pair. It is a good buy on short term if Bremain is confirmed and then should be shorted, targeting 1:1 or even 0.87 with USD.

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Doom activated much earlier than expected

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It is hard to predict where EUR pairs decline will stop. Everything will depend on how the European burocracy will react and how solid and quick will be their action plan. If investors se that EU hasn't got any Plan B, they will punish hard everything valued in Euro. For now, 1.05 level looks pretty reachable.

We can also see a speedy turnaround for Euro if European burocracy starts to act. First thing to do: say goodbye to the UK and lift sanctions from Russia. If this happens, investors will believe that EUR still can last for a while...