Let’s start from the monthly chart. We can see the clear downtrend where the EURUSD is since the 2008, and it hasn’t been able to break that downtrend channel. As a bull, I would like to see the 1.26 level broken for the Euro to keep going up. Taking a closer look, we can see how the last upward move retracement is getting closer to the 61.8 Fib level, 1.19178, where I will be potentially buying the pair. If it breaks that level we could see the pair falling to 1.15. In the daily chart we can see how the price is almost kissing the 200 SMA, so that might hold, but I rather be buying as I said before around 1.19.
What do you think? are you a bull or a bear? It would be great to hear your ideas and discuss them.




Leave a Reply