EURUSD 2005 drop

Hi
I know I've posted my preferred views on EURUSD in few occasions on MoneyTec, and know I am posting kind off an update of that Charts.

Joseph, I started writing my analysis on JPY Longer Term, but would definitely like to try a recorded video or a MS NetMeeting conference. I have some problems with audio, hope to solve it quickly. If not I'll have to write it. I'll do NIKKEI and CAD together with JPY.

On the charts is the drop from beginning of 2005. Since I believe the chart is clear enough no need to explain it.















Second chart is the recent drop and how I see it.

As I wrote few posts back in those Market updates, I believe we are in a downtrend and I don't expect any surprises.


But there is a possibility of a correction to go to upper levels 1.2040 to 1.2160
On the chart up are the resistance levels, and above that could comletely change the view.
If USDX can't make it above 90.40/55 then we can expect it will drop further down, so possible larger gains in USD based pair.