The euro currency is now sitting on the edge of a cliff. Here is my latest AI chart for the sickly, doomed-to-fail currency:
As you can clearly see, the AI forecast is calling for a rather long downtrend all the way into early February of next year.
Naturally, there will be some bounces along the way lower, like the one shown for the end of October.
But that will just give you another opportunity to add to a bearish position on the euro, which I recommend an initial stake in with today’s recommendation.
Also note the technical chart of the euro I have here for you.
The euro is in a clear downtrend median line set, or trading channel, and it points lower, much lower …
With the euro soon set to likely break the 1.11 level, then the 1.10 level …
And probably move to parity with the dollar, or even lower, come February of next year.
However, do not expect to hold this position for several months. Per changes we are making to the service, we will likely be trading in and out of the euro’s downtrend to catch the swings and aim to compound the profit potential.
You should currently own EUO January 2017 calls, strike price $28 (EUO170120C00028000). These calls, which rise in value as the euro falls, are deeply underwater. However, they have almost four full months to go and can not only come roaring back, but also still have a very good chance of spinning off some nice profit potential. HOLD.
If you do not own these call options, for whatever reason, do not purchase them at this time, and instead, focus on today’s recommendation, below …
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For ALL Members: Using 3% of the funds you are allocating to this service, purchase ProShares UltraShort Euro, symbol EUO, at the market. Then, place a good-till-cancelled protective sell stop on ALL of your shares of EUO at $22.67. |
Note: For those of you who already own shares of EUO, set your stop on your existing shares, plus the additional shares you are purchasing today at $22.67, per the order instructions above.
Hold all other positions and related stops, including yesterday’s recommendation to purchase UWTI.
Stay tuned!
Best wishes,
Larry
