I have been asked many times now if I can have a look at EURUSD on a long-term base and give my opinion. Here we go.
Within a strong correcture, EURUSD has made quite a way down the last two years.
At the moment the currency pair is in the middle of a range and found so far good support on the Yearly S1- Pivot and has managed to come back above the Quarterly Pivot.
To give this a shape:
1. The big support is the Yearly S1 Pivot (1.09), if broken down, 1.04 comes into reach as a low target.
2. The big resistance sits around 1.11, if broken 1.16 and then 1.19 are the high targets 1 and 2.
Watch those levels carefully, at the moment there is some space upwards shortterm. Got you in two important trendlines.
Have a very good day.
Neru
Within a strong correcture, EURUSD has made quite a way down the last two years.
At the moment the currency pair is in the middle of a range and found so far good support on the Yearly S1- Pivot and has managed to come back above the Quarterly Pivot.
To give this a shape:
1. The big support is the Yearly S1 Pivot (1.09), if broken down, 1.04 comes into reach as a low target.
2. The big resistance sits around 1.11, if broken 1.16 and then 1.19 are the high targets 1 and 2.
Watch those levels carefully, at the moment there is some space upwards shortterm. Got you in two important trendlines.
Have a very good day.
Neru
