EURUSD Long Term Idea: Breach of Sliding Parrallel!

Hello all,

Looking at some long term technical signals that is supporting a weaker EURO

OUTLOOK: Lower Prices

Idea Supported by the following technical observations

Major Pitchfork: Headed to the Black ML from P2 (1 July 2008)

Green Upward Pitchfork: Breach of Lower MLH and now Sliding Parallel constitutes a price failure, Therefore counter move should be greater than the move up, towards the ML ( See both downward targets )

Grey downward pitchfork: Supporting our expectation of prices falling to the latest ML ( See FIB targets 0.272 & 0.618 ) and finally to the MAJOR pitchfork ML
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Supporting Major Top 1.39924 (May 2014)

Time Resistance
Previous Upward Range Took 11 Months. 200% of 11 Months is 22 Months ( Ends MAY 2014)

Price Resistance
Current upward range is 63.7% of previous upward range and 67.30% of previous downward range, thus they are in a Pivot Zone between 61.8% and 78.6%.

Sincerely,

Timing Is Key