On EURUSD 1M chart (not for trading-informational only)- all in my opinion points to a continuation of its BEARISH trend from 2008 until end of 2016/2017. I start with BIG picture of any pair, then go down to LITTLE picture to trade.
All EMA's are above PA & pair has been in a MONTHLY consolidation range from early 2015 & still going today (see Black edge box/orange) for further details. The pitchfork indicator on chart was placed over PA to show everyone where PA is in related to middle of the FORK part- this is where PA naturally goes, which is MIDDLE of pitchfork. Now PA is on right edge & right under EMA 26 (pink line). I expect EUR/USD to do a slow move lower for rest of 2016 to center of pitchfork indicator, breakout of box area. Finally, RSI on lower part of chart says-> EUR/USD will be going lower (pointed down), related to being under 50 LEVEL (bearish) for the last approximately 2 years (since 6/2014).
On chart 2000-2002 r/t MAJOR support areas on 1 M chart, which would be in between 0.82311 to 0.95951.
All EMA's are above PA & pair has been in a MONTHLY consolidation range from early 2015 & still going today (see Black edge box/orange) for further details. The pitchfork indicator on chart was placed over PA to show everyone where PA is in related to middle of the FORK part- this is where PA naturally goes, which is MIDDLE of pitchfork. Now PA is on right edge & right under EMA 26 (pink line). I expect EUR/USD to do a slow move lower for rest of 2016 to center of pitchfork indicator, breakout of box area. Finally, RSI on lower part of chart says-> EUR/USD will be going lower (pointed down), related to being under 50 LEVEL (bearish) for the last approximately 2 years (since 6/2014).
On chart 2000-2002 r/t MAJOR support areas on 1 M chart, which would be in between 0.82311 to 0.95951.