After more than 2 months of struggle for the dollar, it finally took control of the trend as it broke above 95.6.
As seen in EURUSD, multiple structures have been broken such as the bottom of a 2-months symmetrical triangle and the bottom of the overall range 1.17 - 1.15.
It is next to inevitable that EURUSD will face a prolonged period of rapid depreciation.
We look at the chart and suggest these 2 levels to enter a sell trade: 1.142 and 1.147.
The stop loss level as projected on the chart is already a very safe level to absorb any possible retracement.
As seen in EURUSD, multiple structures have been broken such as the bottom of a 2-months symmetrical triangle and the bottom of the overall range 1.17 - 1.15.
It is next to inevitable that EURUSD will face a prolonged period of rapid depreciation.
We look at the chart and suggest these 2 levels to enter a sell trade: 1.142 and 1.147.
The stop loss level as projected on the chart is already a very safe level to absorb any possible retracement.