EURO - future development options!
On the EUR/USD chart several significant events, in my opinion, have happened!
Firstly:
On the EUR/USD chart at the end of March, the bottom of the upward global trend was retested for the second time!
Secondly:
The test was held at trading volumes that are quite unbelievable for this pair, exceeding at least two times the maximum on the chart!
Thirdly:
Without breaking the last minimum 1.03402 the chart up till today has formed, possibly, the first entry wave of the five wave structure, and by adjusting it, we can see that at least a corrective movement to the top has begun, and at the maximum, everything is possible, even a full-fledged growth!
Conclusion:
I think in the EUR / USD pair we can expect to see a long protracted corrective movement within the framework of a small upward channel on the chart, or, if it is broken, a big climb to the peak of the global upward trend.
In any case, the vector in my opinion at the end of March has changed!
But nevertheless I would carefully observe the global growing trend lower limit.
My thoughts:
Each large economy, as we know, is fundamentally interested in its cheap currency.
Today at the moment, it seems that so far, the Eurozone is losing this battle!
Or maybe it's a tricky strategy😉
EURUSD