*Not for trading, just for knowledge. On EUR/USD 1 M chart, noted that price action has been in a ranging (green box) area for awhile. If price action does break out of box lower, then current support of 1.05000 then NOTHING is holding this pair from going down to record lows of around 0.85000 (2001 to 2002). This might take several months or years with this EUR/USD pair. Instability with EURO is an issue to watch for--- countries declaring bankrupt, etc...
Like all higher time frame charts--- they are for informational purposes only- not for trading. Noted on chart is another SIGN of possible continuing bearish price action & ALL EMA's (26,50 & 200) are above current price action, except the short term ema of 9 (trigger/purple line). Death cross or ema 200 when above ema 50 which is a bearish sign. This pair is the number #1 traded FOREX pair- r/t volume, liquidity, stability-- BUT PA does move very slowly too.
Like all higher time frame charts--- they are for informational purposes only- not for trading. Noted on chart is another SIGN of possible continuing bearish price action & ALL EMA's (26,50 & 200) are above current price action, except the short term ema of 9 (trigger/purple line). Death cross or ema 200 when above ema 50 which is a bearish sign. This pair is the number #1 traded FOREX pair- r/t volume, liquidity, stability-- BUT PA does move very slowly too.