It appears that EUR/USD may have reached a potential low point after being in a bearish trend for 80 days. Currently, it has closed above a recent swing level. I am patiently awaiting a breakout and subsequent retest of the channel before considering a move towards 1.07338. On the other hand, the DOW Jones is beginning to shift towards a bearish trend after 11.4 weeks of bullish activity. This shift may lead to upward movements in gold, silver, and EUR/USD.
There are several converging factors to watch for a buying opportunity once EUR/USD breaks out of the channel.
There are several converging factors to watch for a buying opportunity once EUR/USD breaks out of the channel.