TheRealPeaches
Long

Happy New Year: EURUSD

FX:EURUSD   Euro / U.S. Dollar
Here is the monthly chart of the EURUSD             .

Price was contained between 2014 and 2016. At the beginning of 2017 we made a false break to the downside. This created a fast move to the upside. Price broke out of the consolidation range, and retested it in October and November. We have since rallied in December, and finish 2017 with a bullish tone. None of this is bearish .

It looks as though the EUR wants to test the longterm down trendline . This comes into play at around 1.25. From there, we can roll over, or break free to test the next level - longterm resistance at around 1.35. Interestingly, the bullish move on 2017 suggests a measured move to a similar level. But this may be getting too far ahead.

For now, we can say that a test of 1.25 is likely for the EUR in 2018. Also check out the bullish divergence in the Stoch RSI . This is a clue that things could be getting interesting.

I'm flat, looking to long.

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