Given the DXY strength, I can see EURUSD continuing the downtrend for the next year or so.
This is a monthly chart for a macro picture, you can check lower time frames (W, D and finally 4H or 1H for entry) while keeping an eye on DXY pullbacks and retracements.
This is an option and not a trading signal, please do your own analysis and share your thoughts :)
Higher probability is that DXY will go up making higher highs an higher lows (blue arrows); alternatively, red arrows represent the continuation of DXY downtrend which is unlikely to happen. 200 MA is flat right now after several weeks of being pointing down.
Accordingly, you can track major pairs an commodities (EURUSD / AUDUSD / NZDUSD / XAUUSD, etc...) as they...
