Possible fundamental scenario's during this time:
- President Trump turning out to be a liability regarding international relations
- US stock markets retracing due to all time highs
- Cheap margin debt becoming an issue (source: http://www.investopedia.com/news/margin-...)
- US unemployment is at a bottom low, I don't see the US government creating enough jobs / making the US economy thrive even more (source: http://www.tradingeconomics.com/united-s...)
NB: Just a basic chart created for my personal currency conversions, not actively trading this setup.
1) Made a solid swing upwards from 1.058 to 1.144 (+8.12%)
2) We broke through an important bearish trendline (light red), which was tested during the runup
3) We hit the top of the range (resistance) which has formed since Q1 2015, which is also an historically important level (pre 2004)
This means it might range between 1.11 and 1.15 for a few months before continuing upwards.