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EURUSD Powerful Long Term Trend Line in Question

FX:EURUSD   Euro Fx/U.S. Dollar
As of 5:30 pm EST Crude ( CL1!             ) has fallen 4.64% and has broken its last most recent major support level. Due to this breach, it is most likely that negative crude price action will continue. Based on the inverse correlation between Crude and the US Dollar             , Crude’s impending continued fall will be good news for the US Dollar             . Us Dollar             rally will result in the downfall of any currency pair with USD in the denominator. Aside from the US Dollar’s imminent rally, EURUSD             is currently on the bottom side of a trend line stretching all of the way back to January of 2014. This trend line has acted as both trend support and trend resistance. A tremendous push of bull strength will be required to break this long term structure. Therefore, as the most likely outcome, I anticipate a EURUSD             bear market lasting until up to 2016. Potential targets will be 1.08, 1.05, 1.02 and parity. FOMC was leaked and the resultant market price action was bullish , although it has not penetrated the trend line.

As always feel free to leave your thoughts and comments and please don't hesitate to leave a like I do appreciate it. Happy Trading!
Looking good.
+3 Reply
IceTrading PRO IvanLabrie
a year ago
Thank you
+2 Reply
Longtermtrader
a year ago
Your chart is so visually appealing. Nice TA.
+1 Reply
IceTrading PRO Longtermtrader
a year ago
I appreciate that thank you.
+1 Reply
I hope so, mate.
+1 Reply
iBiohazard
a year ago
Nice chart. Personally, I think that the Euro will rally given US's lack of confidence plus the euro has broken a lot of previous structure and is looking to get some support from the bat pattern back a few months ago but who knows! That's why we all love trading. Good luck and happy trading,
Bio.
+1 Reply
KVE PRO
a year ago
Interesting, everything points to down after a last move up... I do see 1.18 as a possible target, maybe a false break of your upper trendline and then a freefall...?
My view:
EURUSD update: watch for the triangle breakout!
+1 Reply
IceTrading PRO KVE
a year ago
Excellent TA.
Reply
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