Let's look at the really big picture again on the EUR/USD- the MONTHLY chart (log scale).
Note: this is of course NOT suitable for trading. Beware.
Usage:
- protecting your savings (by going into USD)
- determining the overall trend (which pressure prevails, when going down to lower time frames?)
- as well as determining important support & resistance levels we might otherwise forget about.
Positions to the downside should be taken around 1.12 / max 1.19 (if it would ever get that far). I am more and more convinced that the latter level won't even be reached at all.
Since we're now mid-way the entire range, I am now successively starting to load on shorts - since this endless sideways move must someday end, and I expect it to continue to the downside with force.
FYI: I've been pulling my EUR assets into USD assets. Long term, I mean - not even relating to trading. This is not going to end well in the long run... It simply can't.
Note: this is of course NOT suitable for trading. Beware.
Usage:
- protecting your savings (by going into USD)
- determining the overall trend (which pressure prevails, when going down to lower time frames?)
- as well as determining important support & resistance levels we might otherwise forget about.
Positions to the downside should be taken around 1.12 / max 1.19 (if it would ever get that far). I am more and more convinced that the latter level won't even be reached at all.
Since we're now mid-way the entire range, I am now successively starting to load on shorts - since this endless sideways move must someday end, and I expect it to continue to the downside with force.
FYI: I've been pulling my EUR assets into USD assets. Long term, I mean - not even relating to trading. This is not going to end well in the long run... It simply can't.