Ten year chart of EURUSD
shows two cycle pattern. The bullish
market, which started 2002, lasted 6 years. The peak was formed in 2008 when the crisis erupted. If we assume that the bear market would be with the same duration as bullish
one the end of this cycle could be dated at the end of 2013 or the beginning of 2014 with target 1.08. Of course such assumption is based on approximation as the strength of the euro
strongly depends on the ability
of the Euro
leaders to manage the situation.