EURO broke through 200 EMA

12 mai 2018

After looking at euro / dollar charts since 1972, I realized that the most recent euro high was a pullback (backtesting) to yearly trendline which it broke in the end of 2014. The old yearly trendline became a resistance now. This thing is called the change of polarity. And now we are just starting to drop back from it down again. Expect a further bearish euro rally next days to the next fib level / previous high. The same concerns CHF and GBP as those currensie follow EURO pretty close.