Hey Traders,
Not sure if this thread belongs here, but I noticed something in viewing the overall market.
What I saw showed a possible future in the price of the eur/usd rising.
here’s my back up:
I am viewing the EUR/USD on a 1 week chart.
I see a resistance line at around 1.3450. At the current price of 1.3682, it acts as a support for the price.
Looking back a few weeks, the resistance/support line was not breached except for the wipsaw at the end of january/beginning of february. the small consolidation that the market has shown after price breaking through the resistance, thus becoming support has shown the possibility of price making a big push up, possibly to the old resistance line at around 1.4152 over the next few months. is anyone seeing the same stuff I am?
Even though RSI shows price at overbought, Bollinger bands and Parabolic SAR confirm this is a strong area to consider going long, according to my observation and analysis.
Anyone care to confirm/criticize/shutdown this notion?
Attached is a .jpeg of what i’m talking about
Thanks
