Achieving the goals of medium-term growth of the currency pair EUR / USD, calculated at the analysis timeframes H1-H4 in the previous review, allow to take more senior, full-time, the schedule for the technical analysis and calculation of long-term goals of the movement of the euro.
The publication of proceedings of the last meeting of the US Federal Reserve on Wednesday, 6 April, as well as speeches by ECB President M. Draghi's speech on the economic and financial situation in Europe and the Fed Chairman George. Yellen, who will take part in a discussion with the former Fed chairman on Thursday, 7 April may contribute to the euro / dollar high volatility.
Gray vertical lines on the graph highlighted expiry date of the futures exchange contract euro. The blue horizontal lines are allocated the maximum amount of storage areas according to the profile in the volume indicated by the blue or red arrow directional movement (wave). The rectangles shown fibotseli third wave of development on levels 138-162 and more from the first wave.
Prospects for long-term growth EURUSD Forex
March 15, 2015 began an attempt to change the long-term downtrend in the euro to an upward movement in the correction.
By the end of September euro futures exchange contract from 2015 formed red trehvolvnovka up 3 red green wave struck average, which corresponds to the monthly trend of euro against the dollar. After this test, followed by a deep pullback on the red arrow down, without pereLow region start rising trend 1.0462.
Since the beginning of December 2015, after news began to develop jerk upward movement on the blue arrows, reached first internal target 162% in the area of 1.1392, with potential for further growth in the area 1,1600-1,1800. The maximum amount of blue in the final, not even formed until the end, the wave is located in the high area of 1.1400. Long-term volume level of support generated in the previous decline of the currency pair above which the price is trying to gain a foothold is in the area of 1.1320. Price, with the growth in internal targets younger timeframes reached price resistance zone marked ovals on the peaks. The price is also fixed above the middle of green. Fixing prices above 1.1320 and a break of resistance in the range 1,1450-1,1500 may allow the euro to continue the upward trend until brown and the next nearest secondary volume resistance level 1.2460, formed in the previous downtrend.
Break the green middle and almost recoilless growth may be adjusted downward movement and retest the area of intersection of green and red moving averages. This area further growth is possible for the above purposes.
The prospect of continued long-term downward trend of EURUSD Forex
The predominance of an upward trend in a very strong downward long-term trend helps to consider the alternative scenario - depreciation of the euro against the dollar and the continuation of the global downtrend. It should also be noted that the euro is rising in spite of fundamental analysis, in the case of repeated reduction of the ECB interest rates.
Such a scenario will implement in the case of forming a light-red trend without price pereHight resistance 1.1700 range. Falling prices can be active as senior red waves can be formed 1 + 2 down, and the movement will develop in the red wave 3. In this embodiment, support levels will perform maximum accumulation volume ranges previously accumulated in the areas of 1.1320, 1.0900, price highs on the peaks of the blue waves, the moving averages.
The forecasts presented in this review are the private opinion of the author. Comments them are not a recommendation to trade or manual work in the financial markets. Alpari does not accept any liability for any direct or indirect damages (or other kinds of damage) that may occur in the case of the review of materials.
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