This pair seems like have some kind of equilibrium zone and symmetrical cycles. We can see 124 months lasting cycle above equilibrium zone since market break out of it in 1994-03-01 and broke through again in 2004-07-01. And in 2015-07-01 we see another break through into upside zone again. This is 130 months period (close enough to first one of 124 months).
If we compare high to high cycle (green waves on the bottom of the chart) - we see end of equal time period comming in 2016-05-02. We do not say it will do significant influence, but it could match end of major (red) impulse pattern wave 3. Market is near strong resistance zone in between of all time high to low Fibonacci retracement of 78.6% and historically strong round price level 1.43.
For more detailed and more frequent ideas, reviews and analysis you can contact me here, on facebook or website.
Best wishes for new incoming trading year! ;)
If we compare high to high cycle (green waves on the bottom of the chart) - we see end of equal time period comming in 2016-05-02. We do not say it will do significant influence, but it could match end of major (red) impulse pattern wave 3. Market is near strong resistance zone in between of all time high to low Fibonacci retracement of 78.6% and historically strong round price level 1.43.
For more detailed and more frequent ideas, reviews and analysis you can contact me here, on facebook or website.
Best wishes for new incoming trading year! ;)