EUR/USD, 16 months of consolidation
It’s interesting to see how long the consolidation of the main currency pair is. To be precise, from January 18.2015 after the pair reached the exact level where it is today, near the 1.1200. There was some downs and ups as you can see, but we can conclude easy that there is no long-term trend for the past 16 months in which the pair is consolidating after falling from a level of 1.400. It’s not easy to predict where the pair could go in the future period, long term? There is too much developments and new fundamental reasons and the main one could be the Brexit. This decision can strongly affect the fundamental value of the euro and it is difficult to predict where the same could end in the market verus his main opponent, the US dollar. All you can do until is to trade short term intraday, what else. I trade rearly EUR/USD in 2016 and as you can see, I don’t analyse the same as well. It’s to boring! How about you?