Since the last 20 years a huge triangle built on the EURUSD.
We are on the edge of this triangle.
A break higher than the top of the range (1.16500) will follow with the weakest dollar we've seen in a very long time and a massive bull trend.
A break below the bottom of the range (1.08000) will follow with a stronger dollar and a much weaker euro.
At the moment...
Since 5th of June to today - ascending tunnel formation built out of higher highs and higher lows creating the shape of a tunnel going up.
The range to sustain the pattern is 1789 - 1825.
A break below 1789 with a 4h close, will allow for further decline down, as a first stage to 1760 hourly support.
A break above 1825 with a 4h close, will allow for target of...
3 horizontal levels marked on chart
- 1555 weekly support/resistance relevant for the last 10 years as seen on chart
- 1790-1800 weekly support/resistance relevant for the last 10 years as seen on chart
- 1920 highest level of all time, target price for now if we close a weekly candle above 1790-1800 resistance.
Also, triangle pattern between June 13-June 19 -...
Following the US30 reaching to the support of the wedge around 25,050-25,100 after my last idea, US30 continued rise back to the 25800 resistance, forming a triple top - within the same day an immediate reaction came when it broke back below the neckline around 25,600 area as a result of reaching the descending trend line resistance converged with the triple top...
Clear double top indicated across time frames around 26,300-26,400, clearly seen on 1h chart as well as 4h.
Neck line break following a 800 dollar drop below 25,500 with a daily close.
Following a neck line break the expected drop is equal to the distance between neckline to tops, meaning 800.
Target stands on 24,600-800 for now.
The fundamentals remain...