As you see there was some attempt for a break out at 20/12 but at the end of the day we moved back below the resistance line.Some days later came the news for delay.Do they get info first ??

Support at 0.96 couldn't hold due to the news so we were knocked down again.

Therefore recent first stop was at today's point.We also see we are in a falling wedge.If fact a falling wedge is better the a rising one..Because the breakout is mostly up when things get better.Also we see that neither the resistance lines on rsi and macd are not broken so as long we stay below trend is down.

The accumulation/distribution indicator shows that the distribution is now the biggest drive.

But tome as personal feeling I think we are near bottom.What bad news can we expect to drive us deeper then we are now.We know DG decission ,oil is dropping after Opec and don't we have option expiring day today too.So could be traders next week will have another strategy again after selling heavily on oil.

Brian has some point about deflation.Hope it's not.Heard on our tv that retailers said people must take action now on current low prices because once stockpiles are empty prices will go back up again.Current price dumps are an attempt to get rid of their stocks.

I was also surprised to see on tv ,now that Christmas hollidays has started so many people goes for ski vacations or to warmer places.It looks so far here that the crisis is not really visible.