🔸As we can see, we are talking about a monthly chart, so this projection is long-term, but depending on the speed of the movement, the duration can vary.
🔸After consolidating for approximately ten years after generating the historical low, the price managed to break the ascending trendline of the consolidation. From there, the movement has been evident.
🔸In recent months, due to the abrupt decline in the dollar, this pair has obviously been affected.
🔸If we analyze the nearby support areas, the first we find is at 0.83000, approximately 500 pips from the current price.
🔸If the price reaches this zone and breaks it, the next is around 1300 pips, in the price zone of 0.71200.
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