EURUSD Long term analysis.
Long-term analysis of EURUSD.
1971 to present.
Reaction rebound at 0.618 FIB level of correction wave after three-stage rise (blue dotted line). Uptrend continues overall.
12M
The trend wave (red dotted line) that reached its high in 2008 has collapsed (price falls below red horizontal dotted line HL). Downtrend in progress.
The upward rebound in 22' and 23' was held down by the yearly and 6-month SR (red horizontal line), and in 24' has been back downwards again, Body of 24' candle already exceeding that of 23'. For this reason, it is highly likely that the 24' candle will end below the lowest price of the 23' candle. (Engalfin)
6M
Downtrend.
The price held down by the downtrend line and LH zone (gray).
The inability to exceed the yearly and 6-month SR (red horizontal line) is encouraging further continuation of the downtrend.
3M
Downtrend.
The bearish Engalfin candlestick pattern shows strong selling. The price is also moving below the 3-month SR (blue dotted line).
Monthly
Trendless.
The price rebounded in the first half of this month, but was held down by the monthly MSR (blue dotted line)
and strong selling is occurring.
If the price falls below the orange line, it will become a downtrend.
Prediction.
Long position.
If the price is held down by the line that could be a foothold (black parallel line), it can be seen as a W bottom on the annual chart that took 10 years to form, and the right foot can be seen also as a W bottom on the 6-month chart that took 3 years to form.
We have to follow up.
Short.
It is less than 200 pips to the line that could be a foothold (black parallel line), It is best to sell by following the trend on the Weekly and Daily charts.
1971 to present.
Reaction rebound at 0.618 FIB level of correction wave after three-stage rise (blue dotted line). Uptrend continues overall.
12M
The trend wave (red dotted line) that reached its high in 2008 has collapsed (price falls below red horizontal dotted line HL). Downtrend in progress.
The upward rebound in 22' and 23' was held down by the yearly and 6-month SR (red horizontal line), and in 24' has been back downwards again, Body of 24' candle already exceeding that of 23'. For this reason, it is highly likely that the 24' candle will end below the lowest price of the 23' candle. (Engalfin)
6M
Downtrend.
The price held down by the downtrend line and LH zone (gray).
The inability to exceed the yearly and 6-month SR (red horizontal line) is encouraging further continuation of the downtrend.
3M
Downtrend.
The bearish Engalfin candlestick pattern shows strong selling. The price is also moving below the 3-month SR (blue dotted line).
Monthly
Trendless.
The price rebounded in the first half of this month, but was held down by the monthly MSR (blue dotted line)
and strong selling is occurring.
If the price falls below the orange line, it will become a downtrend.
Prediction.
Long position.
If the price is held down by the line that could be a foothold (black parallel line), it can be seen as a W bottom on the annual chart that took 10 years to form, and the right foot can be seen also as a W bottom on the 6-month chart that took 3 years to form.
We have to follow up.
Short.
It is less than 200 pips to the line that could be a foothold (black parallel line), It is best to sell by following the trend on the Weekly and Daily charts.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.