This is the time when these two major pair is about to talk to us.
Let's see the EUR viewpoint : - The price is breaking out from the weekly trendline and it's making a beautiful pattern formation that we can recognise. The way to trade this, is now to wait for the confirmation and get into the buy. BUT here comes the USD viewpoint: - The price is doing exactly the same on this pair. The Dollar is at that point when it breaking out from a monthly long term down trend. The way to trade this, is to wait for this pattern formation to finish and try to get into this buy again. The worst can happen when the USD will just fall and will make a new low. It's not gonna be the end of the world because we can trade this to the downside, but it would be really nice if this pattern would finish and we could see a nice big up move.
I will try to update the chart as frequent as possible along side with the trading setup, if there is any.
Stay Tune for more update.
Alex
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Seems like the USD won this battle and gave us that beautiful pattern on it. Hope you guys had a trade on that one. Let's see how high it will get now.