Herakllion
Short

Weekly bearish engulfing candle

OANDA:EURUSD   EUR/USD
40 0 1
EURUSD             have been consolidating in a 1000 pips range since 2 years, one of it's longest consolidations in history. The breakout will definitely be aggressive. Concerning the 2 years range almost covered in 2 weeks with a strong downside momentum and the bearish engulfing candle of election week, it is highly possible that a breakdown may occur soon. I'm expecting a relatively small correction from 1.05xx zone (maybe till 1.08xx) and a breakdown from there. That zone will be a very big opportunity with a huge RR ratio. If this scenario will come true (which seems highly possible imo), then 0,85 is not an overblown target for 2017.
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