• Daily EURO/DOLLAR chart, zooming out back to 2021, where the 1.5 year downtrend started • Short term, trend is bullish, higher highs higher lows • Rising wedge forming, a bearish reversal pattern • Resistance levels becoming support levels, a clear sign of an uptrend • However, looking at the big picture changes the outlook a little bit • Drew Fibonacci retracement levels 50% and 61.8% of the long term downtrend • 50% level is around 1.09 and 61.8% is around 1.1225 • Bulls are now fighting to break the 50% level, without success till now • Last area of defense for the bears is the 61.8% critical correction level • If 1.1225 level stays intact, the pair will resume the long term downtrend • Only if bulls manage to break the above level, we can safely say that the long term trend reversed and we are in a bullish market