has changed from an uptrend to range bound in the short term. We may be seeing the end of the strong uptrend that the Euro
has been in or a complex PB
but I'm leaning towards the end. The Dollar is still on its hike cycle with three hikes predicted this year and should be strong but with all of the turnover in office and ongoing talks about Russia we have yet to see it in this pair. I'm inclined to believe Trump may be trying to stay in the headlines on purpose as he has made no attempt to hide the fact that he wants a weak dollar. Now with the last two rally's almost being identical at 302 pips and 288 pips respectfully, marked on the chart. Look for the Euro
to continue back towards the trendline
and supply area of 1.22.
As always do your own due diligence.
Keep Calm and Trade Forex.