This is the 6 month HA chart. We can see that Euro was in a parallel channel uptrend over most of its lifetime against US Dollar.
We've since had a parallel channel breakdown. Measured 1x and 1.5x targets for a parallel channel breakdown are on the chart.
Reminder, this is a long-term view, which could take quite a few years to complete, if valid.
Invalidated if we break back into the channel and remain. Good chance we'll see a re-test of the bottom of the channel at some point in the near future prior to falling towards the 1x or 1.5x targets.
We've since had a parallel channel breakdown. Measured 1x and 1.5x targets for a parallel channel breakdown are on the chart.
Reminder, this is a long-term view, which could take quite a few years to complete, if valid.
Invalidated if we break back into the channel and remain. Good chance we'll see a re-test of the bottom of the channel at some point in the near future prior to falling towards the 1x or 1.5x targets.
Comment:
Here's a 3m log chart version of the same idea, more conservative targets & a possible turn around in the 60 cents area near its TP 1:
Comment:
Meanwhile DXY looks like the inverse of above (non-log chart, log chart looks nearly identical however):