Back to an Ordinary World…

Let’s take a look at eurusd forex pair. Here is the 10 year monthly candle chart. Nice consolidation pattern (+10 months) just bouncing off the support. Arrows indicate the next mesured move in case of a monthly candle close across the break line.

eurusd_m

The 5 year weekly candle chart show more of the same. Price action right now smack between the breakout level at 1.125 and breakdown level at 1.05.

eurusd_w

A final zoom in on the 1 year daily candle chart. No man’s land.

eurusd_d

This pair is starting off the new year needing some time to choose it’s next tagert. Bullish breakout would bring this pair to 1.197. Bearish breakdown would give a target back at parity. All is “ordinary” for now… Patience required.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.