Lets take a look for euro/usd chart in the long period of time – it was assumed last 600 sessions – photo nr 1.
Its quite important place and time where we are. Now the rate is being tested a crucial supporting level which is “1.12”
Thats a good chance for bears to tramp it down and leave out the reactangle with a big sound (1.12 – 1.16 area).
Destination target to acheive is 1 -1.04! is it sound unbelievably? We will see!.
Additionally the newhach’s indicators shows visible “S H S” formation, which forecasts falling off the market.