Possible false breakout, trendlines, and future important points
A major trend line from 2008 has been passed. However, recent stock activity since the past 3-4 days have shown high volatility and spikes. This correlates with the date when the major trendline was surpassed. I suspect this is a false breakout and an over buy. The price will possible drop back to bellow the major 2008 upper bound trendline. However, there is still a possibility that the price of EUR/USD could go back up and break the trend line, due to a falling edge trend analysis. The upper bound of the 2008 trend line (green), and the upper-bound of the (gray) trend line, form this falling wedge. To me the expected date of when EUR/USD could have the highest chance of a breakout is approximately around, December 29 (2021) to January 3rd (2022). This point is marked by an arrow. There are also other major points marked by other arrows if the breakout does not occur.
The red color trend line was created using the 3 low points in EUR/USD's entire history, just telling if it looks weird or out of place.
This is JUST AN ANALYSIS AND PREDICTION, BUY AND SELL AT YOUR OWN RISK.
The red color trend line was created using the 3 low points in EUR/USD's entire history, just telling if it looks weird or out of place.
This is JUST AN ANALYSIS AND PREDICTION, BUY AND SELL AT YOUR OWN RISK.
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