The EURUSD has plainly made a steady downtrend from 2008 and has never looked back.
Of interest is the swing down and it's relation to the 5 year MA.
1. GFC Swing - which started the whole ballgame of a weak EURO . Magnitude = 2955 pips. Duration = 4 bars.
2. EUROZONE Financial Crisis - starting in 2009 and lingering to 2015, as many EURO member nations required bailout. Magnitude = 2973 pips. Duration = 11 bars
So using these two swings to look for a potential price for the EURO from the current 5 year MA -
1. Magnitude - 2955 pips places price around .8520.
2. Duration - 11 bars would be October 2022 , and this seems a little quick. At 17 bars, April 2023 would be sufficient time for price to get close to bottom of channel.
Of interest is the swing down and it's relation to the 5 year MA.
1. GFC Swing - which started the whole ballgame of a weak EURO . Magnitude = 2955 pips. Duration = 4 bars.
2. EUROZONE Financial Crisis - starting in 2009 and lingering to 2015, as many EURO member nations required bailout. Magnitude = 2973 pips. Duration = 11 bars
So using these two swings to look for a potential price for the EURO from the current 5 year MA -
1. Magnitude - 2955 pips places price around .8520.
2. Duration - 11 bars would be October 2022 , and this seems a little quick. At 17 bars, April 2023 would be sufficient time for price to get close to bottom of channel.