EURUSD: Long term outlook
Updated
The downtrend in the Euro is in danger here. If EURUSD stalls, or rallies higher, there's a chance that it breaks the 2-month timeframe downtrend mode resistance, igniting a fierce rally, after absorbing all overhead supply.
I deem it as a lower probability event, but a very significant one, if we do indeed make the downtrend fail. I think we can see a huge rally. This is a very crowded trade, so I'll focus on attemtpting to catch the dollar fall, while still being long good value US equities.
If by the end of June, we don't hit 0,98898, we could anticipate price breaking higher in time. The minimum required time is signaled on chart.
Good luck,
Ivan Labrie.
I deem it as a lower probability event, but a very significant one, if we do indeed make the downtrend fail. I think we can see a huge rally. This is a very crowded trade, so I'll focus on attemtpting to catch the dollar fall, while still being long good value US equities.
If by the end of June, we don't hit 0,98898, we could anticipate price breaking higher in time. The minimum required time is signaled on chart.
Good luck,
Ivan Labrie.
Comment
Check it out...the bullish signal is now active, no chance to drop to the target before June.Comment
Big chances of moving higher for a long time...
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