Euro vs. Dollar - Long Term Swing Trading Idea - 18 May 2022

Long

Euro / U.S. Dollar (FX:EURUSD)

FX:EURUSD Euro / U.S. Dollar

trendanalysis chartpattern waveanalysis eurusd euro dollar swing trade

EURUSD collapsed in the past week and reached the levels of Jan 2017' lows at 1.0340. In long-term swing and short-medium-term - let's say 1-3 months ahead we don't expect the pair to reach parity with the dollar.

What is the supported thesis technically for the expected scenario on EURUSD?

- DXY needs to correct a little this parabolic move
- In 1H time frame EURUSD forms an impulsive wave upward
- The MACD indicator hits low points and soon will start forming
- Don't over-react the situation is still nothing so scary

If you have any questions related to this trading idea I will be happy to provide you with answers.

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