EUR/USD has been declining for ages. The long-term downtrend in the counter could come to a halt at this price zone.
Technically, the long-term ABC wave could be completed and the short-term charts are forming an inverse head and shoulder pattern.
However, the counter still needs more accumulation at the current price and could create a near-term low, which is good long entry points.
Further, the Euro economy is showing signs of revival whereas the US economy is showing signs of exhaustion.
Technically, the long-term ABC wave could be completed and the short-term charts are forming an inverse head and shoulder pattern.
However, the counter still needs more accumulation at the current price and could create a near-term low, which is good long entry points.
Further, the Euro economy is showing signs of revival whereas the US economy is showing signs of exhaustion.