The monthly Euro chart has it all in plentiful supply. Few of us venture into the monthly chart of anything, really, so this chart here is mainly to give you a greater perspective, as to the long term potential movements and the big picture, with key levels and chart features presented.
The key takeaways:
-Euro is in 12 year long downtrend versus the US dollar
-There is a massive triangle now fully formed.
-The 12 year resistance line is soon to be tested
-2020 saw a breakout of a two year long downward channel
-Should 1.15 level be broken, the next target is 1.20
-Parity, once in sight, is now at least one year away.
-1.05 and 1.20 are the boundaries of the EuroDollar for the coming 1-2 years, with the weighted average of 1.10.
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✅ RELIABLE BROKER: www.prosignalsfx.eu/trustedbroker