EUR/USD, big move on sight!
Here I am again, watching this this interesting EUR/USD monthly chart. As I can see, something will happen here soon and this is how I see it. 1.0800/50 is strong support for the 4th month in a row and this is already good level for long entry. Possible decline bellow that level could find huge liquidity and serious buyers which could boost the pair even stronger toward 1.20, where I see the pair soon. Check the previous huge declines here and covering the same, from 61.8 fibo until almost the full decline cover. At this last decline, euro manage to cover only 23.6 return and we are here almost for 6 months. Maybe you can see this as the bearish sign and possible furder decline because of the weak euro, which can’t handle even the ‘first fibo step’, but this is not my view. US dollar is fundamentaly not so strong, even with the possible following rate hike, which is not going to happen in 2015. btw. Technicaly, this is the bottom for now. Yes, the US dollar broke all the major supports on the way down and possible euro recovery is technicaly limited, but 38.2 fibo or even 1.20 could be reached on the way up. How do you see this traders, what’s your view?