Shocking Reality Of Euro To US Dollar! What Do We Learn From RSI? Technical: What's Ahead Of EUR/USD?

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EURUSD is about to break below parity. 1.00. It has been in the cards for quite some time but what is next. I wrote about it in May but time to refresh.

We must look back several decades to find support levels. 0.96 is next support but EURUSD dropping into the Consolidation area from 2000-2002 between 0.96 and 0.82 is not unlikely.
0.90 is a key level. Back in May 2002 that was the breakout level where EURUSD broke bullish out of its Symmetrical triangle pattern reversing the long down trend going back to the early 1990’s.

RSI still has a bit of way to drop before it reaches same value as in 2015 and 2000 where market turned around. However, just because RSI will hit historic low values around 20 it is not a guarantee of a market bottom. As we saw back in 2015 when RSI hit 20 it was not the market bottom. It was in 2016 in other words a rebound is probable but it is quite likely it will not be the bottom in EURUSD.

Source: Saxo Group

Source: Technical Update - EURUSD about to break parity. Where to next ? | Saxo Group (

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Kim Cramer Larsson

Kim Cramer Larsson started his career in 1996 as an equities trader focusing on the US and Asian markets with BG Bank, London. In 1997, Kim relocated to BG Bank, Copenhagen (BG Bank was acquired by Danske Bank in 2000) to the position of equities trader and portfolio manager. 

Kim began using technical analysis as a trading tool from 1997. In 2005, Kim was promoted to the position of technical analyst in the FX & Fixed Income Research department at Danske Bank. In his current role, Larsson focuses on technical analysis of equities, equity indexes, forex pairs, and more for Saxo Bank. Larsson’s views and analyses can be found on Saxo’s News & Research hub as well as at Saxo’s Academy where he hosts webinars focusing on chart analysis.