Telson
Short

EURUSD Box Break-out Performmance, Long-Term Price Speculation

FX:EURUSD   Euro / U.S. Dollar
Looking over the Weekly chart for the EURUSD             pair we can identify an attempted break-out of the rectangular formation, expecting a continuation of the downtrend dating back to May 2014.

The above is also supported from a shooting star on May 2016 (to my eyes at least), clearly indicating a short move, and we have been looking at the price tag going South since then. Check out the performance possible long-term profits with a previous structure support coming on low 0.99000's levels.

We would also expect a retracement move to retest the broken support but trust to become resistance in due time.

All feedback is highly appreciated.
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Trade active:
snapshot


The support (area) re-tested followed by an engulfing bear candle :)
Trade still active
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snapshot


the box support has been retested, idea still valid
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