EUR is overbought and has been struggling with major resistance
Hello everyone,
In this chart you can see the major EUR/USD longterm downtrend. And as we can now see the Euro has come up to a major inflection point.
Currencies turn over a longer period so we should still see 45-60 days of chopiness between 1.18-1.20. And then I'd give a 70 % Probability of the Euro going down against the dollar.
Though most recently the (the last few days) the dollar has weakened more although still within the parameters of this trade. A weekly close could give more info on where the Euro is going.
For perspective check out the other ideas linked below.
Thank you,
Stay safe, stay liquid.
In this chart you can see the major EUR/USD longterm downtrend. And as we can now see the Euro has come up to a major inflection point.
Currencies turn over a longer period so we should still see 45-60 days of chopiness between 1.18-1.20. And then I'd give a 70 % Probability of the Euro going down against the dollar.
Though most recently the (the last few days) the dollar has weakened more although still within the parameters of this trade. A weekly close could give more info on where the Euro is going.
For perspective check out the other ideas linked below.
Thank you,
Stay safe, stay liquid.
