Since the last 20 years a huge triangle built on the EURUSD. We are on the edge of this triangle. A break higher than the top of the range (1.16500) will follow with the weakest dollar we've seen in a very long time and a massive bull trend. A break below the bottom of the range (1.08000) will follow with a stronger dollar and a much weaker euro.
At the moment fundamentals are in favor of continuation of bull trend pushed by huge amount of money printing dropping the Dollars value. It seems for the moment the Dollar lost safe haven status.
Trade closed: target reached
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As projected, A July 2020 breakout of 1.1650 followed with a massive jump of 700 pips within weeks to 1.2350 at the highest point.
Now the EURUSD is back to the weekly triangle and is around the weekly floor of 1.0800 - Very interesting to watch and see if a breakout would follow or a retest and continuation within the triangle.