The Euro

This is 5 years of the Euro charted.
There are really big swings here but it's important to notice the lower high with each successive swing.
That's why we will be watching for the Euro to turn back shortly.  (George Soros, start your engines!)

The reasons are plenty for the Euro to turn down.
It is estimated that $4 Trillion in bailouts are needed for the euro nations of Portugal, Italy, Ireland, Greece, and Spain.   Where will the money come from and how can it possibly be paid back?
Keep in mind that all of these nations are deeply socialist and are Obama's model for greatness.  
Real inflation for the Eurozone is 8.5% and not the 2.5% claimed by the IMF.

We also notice the falloff in volume as the rise becomes exhausted.
Once the Euro gets rolling along backwards, I look for bottom at par ($1.00)  or even $.80

Bad news for the euro zone will mean good news for the dollar which is in desperate need of some!