From Credit Suisse technical analysts (as part of their outlook for 2015):

Theme: EURUSD completes a multi-year top

  • EURUSD is expected to establish a long-term top, reinforcing the bear trend of 2014.
  • The bear “wedge” established in July 2014 leaves the market below pivotal support at 1.2042 – the 2012 low. We look for a conclusive break to confirm a major reversal.
  • We would target 1.1876 initially, then 1.1212 – 61.8% of the 2000/2008 bull trend.
  • Our core target would be a cluster of supports at 1.0836/1.0765, including the 50% retracement of the entire 1985/2008 uptrend.
  • Bigger picture, we would see scope for parity.
  • Resistance for a recovery is placed at 1.2256 initially, with 1.2600 now ideally capping.
Credit Suisse EURUSD long term technical analysis view 06 January 2015

On this … “Bigger picture, we would see scope for parity” … it’s a bit early but I’ll start arranging the parity party. Book a DJ and such. Is Calvin Harris available? No, wait … maybe we can get Swedish House Mafia back together. They could do ‘One’ (parity party , yeah?)