EUR/USD, 12 months latter!
While the euro returns to collect the ‘forgotten stops’ under the 1.1280/300, let’s take a look at the EUR/USD Monthly chart. As you can see, 1.0500 stop the huge fall which has start in May 2014. I predicted that stop/return point in my analysis from March 11. After 10 months of the sharp falling, the pair finaly find the buyers and rebouded in March/April from 1.0500 to 1.1265 high. The pair closed the April at 1.1220. What do have in May? At the start of this month, the pair is still undecided where to go and there is no clear direction, even the euro is more bullish for now. If we take a look at support/resistance monthly levels, 1.1070/90 is the place for the buyers and 1.1520/40 for the sellers. Long term view shows that 1.2000 is possible strong resistance level for the pair and that could be the top 2015. level for the euro!? How do you see this traders?