The EURUSD pair started the week on a strong note, being the 2nd straight green 1W candle. Still early but if it closes the week that way, it will be the first green 1W streak since the December 27 2021 candle (6 months essentially).
What's even more important though, are the long-term dynamics involved in this recent rebound. As you see, the May 09 2022 1W candle low was priced almost exactly on the 1.03403 low of the January 02 2017 1W candle low, which was the market bottom that year and in fact we haven't seen a lower value since the December 30 2002 (!) candle. As you may notice, the 1W RSI sequences are identical, being a Channel Down in both cases. However the latter part also resembles the bottom formation of Aug 2014 - March 2015. As a result this makes EURUSD a strong long-term buy opportunity, at least towards the end of the year.
During every such rebound around that Support level, has tested in 6 months the Resistance Zone of 1.14540 - 1.15000, which has been in effect since February 2015. As a result, we should be expecting prices above 1.14000 towards the end of this year, and that is my target long-term from now on.
--------------------------------------------------------------------------------------------------------
Please like, subscribe and share your ideas and charts with the community!
--------------------------------------------------------------------------------------------------------
What's even more important though, are the long-term dynamics involved in this recent rebound. As you see, the May 09 2022 1W candle low was priced almost exactly on the 1.03403 low of the January 02 2017 1W candle low, which was the market bottom that year and in fact we haven't seen a lower value since the December 30 2002 (!) candle. As you may notice, the 1W RSI sequences are identical, being a Channel Down in both cases. However the latter part also resembles the bottom formation of Aug 2014 - March 2015. As a result this makes EURUSD a strong long-term buy opportunity, at least towards the end of the year.
During every such rebound around that Support level, has tested in 6 months the Resistance Zone of 1.14540 - 1.15000, which has been in effect since February 2015. As a result, we should be expecting prices above 1.14000 towards the end of this year, and that is my target long-term from now on.
--------------------------------------------------------------------------------------------------------
Please like, subscribe and share your ideas and charts with the community!
--------------------------------------------------------------------------------------------------------
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.