We're looking at the EUR/USD monthly chart. We can clearly see how highly impulsive these latest few down months have been. However, the pair is currently hitting the base of the long term . This is a key historical , and we are paying close attention to what will happen going forward. If we get a convincing breakout of the base, we're looking at a very likely move of the EUR/USD all the way to parity. Alternatively, we may very well get a bounce in the EUR, which will likely mean some correction in the greenback's rally.