EUR/USD - If the bullish trend line does not hold the next target is the median of Andrews' pitchfork - 12/15/2016 (GMT)
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- Timeframe : Monthly
EUR/USD Chart
Remarks this is an analysis of the time frame Yearly, the choice of this time frame is not possible in the settings to post an analysis
Today Eur/Usd make a low lower than the preceding year, with the year coming to the end soon, it is time to identify key levels on this time frame.
We are near a bullish trend line, passing through the two last bottom (Years 1985 & 2000), and this level coincide with the first support of the yearly pivot point S1y at 1.0175. There could be a bullish reaction on this level.
Otherwise, I expect a bearish rally in direction of the median line, for next year 2017 this level is 0.95.
Interesting remark the bullish trend line and the median of the pitchfork cross itself at the parity level...
Today Eur/Usd make a low lower than the preceding year, with the year coming to the end soon, it is time to identify key levels on this time frame.
We are near a bullish trend line, passing through the two last bottom (Years 1985 & 2000), and this level coincide with the first support of the yearly pivot point S1y at 1.0175. There could be a bullish reaction on this level.
Otherwise, I expect a bearish rally in direction of the median line, for next year 2017 this level is 0.95.
Interesting remark the bullish trend line and the median of the pitchfork cross itself at the parity level...
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