Sell the rally!

Goldman Sachs’ “technicals” team has put the Euro’s final destination at US$1.12. As per their note: 

Overall, an eventual extension of the downtrend from the May ‘11 highs to test, and ultimately break, the uptrend from the January ‘02 low at 1.2499 seems likely. The target of the multi-month H&S; top which appears to have completed stands at 1.1260.

Source: Goldman Sachs

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