Wow, does the big picture say a lot here! When the relationship of the moving averages compare as they do now, looking left to be right plays well. Short term, we see the limits of the rising wedge
at 107.75 ish
, and if by some chance we pass that, we crash into the 109.15 ish
top of the decade long resistance. No way we go through that, the MACD
strength doesn't have the juice, and we are also right now backtested the MACD
trend, which I believe we will fail, and head lower on both accounts. HOWEVER, the incredible manipulation moves of currency values by the big 3 (eur, usd, jpy) is historical, unbelievable, dangerous, and will of course end in total disaster of our current financial system. From the ashes however, a new one will rise. And if by some chance we break through either the short term or long term resistance levels, we will have broken every rule, and will also be in no man's land, a new day.