EURUSD has been trading laterally since mid-Arpil 2015, with price staying within the 1st standard deviation from its quarterly (66-day) moving average.
Currently there is apparent risk of breakdown: the price fell to the lower 1st standard deviation from the quarterly from within amid expanding volatility, measured by 3.2 st deviations from the same mean.
If price breaks down below the 1st st deviation (@ 1.0930) - there will be a very high probability of further downmove. The breakdown will be confirmed if the price falls below its relevant lows (@ 1.0880 and 1.0790)
The potential EURUSD downtrend will come in line with the downtrend on WTI Oil, with which EUR is correlated nowadays.
Currently there is apparent risk of breakdown: the price fell to the lower 1st standard deviation from the quarterly from within amid expanding volatility, measured by 3.2 st deviations from the same mean.
If price breaks down below the 1st st deviation (@ 1.0930) - there will be a very high probability of further downmove. The breakdown will be confirmed if the price falls below its relevant lows (@ 1.0880 and 1.0790)
The potential EURUSD downtrend will come in line with the downtrend on WTI Oil, with which EUR is correlated nowadays.
