EUR/USD, could we see 1.20 in 2015.?
Let’s take a look at monthly chart and what do we have in 2015. so far!? The pair open the 2015. with 170 pips gap at 1.1936, after wich has slided to 1.0500 until March, where the lower channel trendline stoped the fall. If you can remember, I predicted that level as strong support and possible turnover here in my analysis at March 11. After that, the pair rebounded up in April and reached 23.6 fibo return of the 1.3993 > 1.0460 fall, with high of 1.1265. In the next 6 months until today, the pair is moving between 1.0800 and 1.1480, except August and this 1.1720 fail weekly and monthly brake of the resistance area. What next? Could wee see a 1.20 in 2015.? Well, if we take a look at this monthly chart and analysis, the pair loook a slightly bullish, but that scenario is possible only if the pair manage to brake and close the month above 1.1550, which could become a strong support in that case. Sure, there is several resistance areas after that and this scenario looks optimistic in this point. If the pair fail to break this monthly resistance area, a number of failed attempts can have the opposite effect, the bears could take a control and pushed the pair back to 1.0500. It’s the middle of October, there is two and a half months until the end of the year, everything is possible. Keep following lower time frames for short term trading, but keep in mind these levels.