EurUsd- We have parity, now what? (Long term view)
I have been strongly bullish Usd and bearish Eur since 1.15 and argued that the pair should reach parity this year and last night this important figure was touched so...now what?
In my book, the answer is simple, CONTINUATION
Looking at the monthly posted chart we can see that since the 2008 ATH at 1.6 the pair is trading downwards and the old 1.2 zone support acted as resistance back in 2018 and 2021.
Also, the extremely important 1.04-1.05 support is clearly broken down now and we should expect lower prices from now on.
From a fundamental point of view, all are in favor of a strong USD and a weak EUR so I would not be surprised at all if EURUSD will reach 0.85 in the next 6 months or so.
The best strategy for this pair is selling rallies and ONLY EurUsd back above 1.05 will temper this aggressive downtrend
In my book, the answer is simple, CONTINUATION
Looking at the monthly posted chart we can see that since the 2008 ATH at 1.6 the pair is trading downwards and the old 1.2 zone support acted as resistance back in 2018 and 2021.
Also, the extremely important 1.04-1.05 support is clearly broken down now and we should expect lower prices from now on.
From a fundamental point of view, all are in favor of a strong USD and a weak EUR so I would not be surprised at all if EURUSD will reach 0.85 in the next 6 months or so.
The best strategy for this pair is selling rallies and ONLY EurUsd back above 1.05 will temper this aggressive downtrend
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