This is the 6 month HA chart. We can see that Euro was in a parallel channel uptrend over most of its lifetime against US Dollar.
We've since had a parallel channel breakdown. Measured 1x and 1.5x targets for a parallel channel breakdown are on the chart.
Reminder, this is a long-term view, which could take quite a few years to complete, if valid.
Invalidated if we break back into the channel and remain. Good chance we'll see a re-test of the bottom of the channel at some point in the near future prior to falling towards the 1x or 1.5x targets.
We've since had a parallel channel breakdown. Measured 1x and 1.5x targets for a parallel channel breakdown are on the chart.
Reminder, this is a long-term view, which could take quite a few years to complete, if valid.
Invalidated if we break back into the channel and remain. Good chance we'll see a re-test of the bottom of the channel at some point in the near future prior to falling towards the 1x or 1.5x targets.
Note
Here's a 3m log chart version of the same idea, more conservative targets & a possible turn around in the 60 cents area near its TP 1:Note
Meanwhile DXY looks like the inverse of above (non-log chart, log chart looks nearly identical however):
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.