FX.co ★ EUR / USD: Let's analyze

EUR / USD: Let's analyze.

Take the daily chart of the euro, turn on a large scale.

What do we see?

First, there was a global growth trend from December 2016 to April 19, 2018, from about 1.0500 to about 1.2500.

(Perhaps this trend will continue and fall to 1.1500. No more than a correction).

Secondly, there was a downtrend for the euro from April 19 to May 29 from 1.2400 to 1.1500.

Note that a strong rebound to the top occurred exactly from the support line of the global trend upward (from 1.1509).

It is likely that the trend is already down and we see a reversal.

All are interested, of course, but what's next?

First, very likely, almost 100% we will see a strong decline towards 1.1500 in the next few trading days (maximum until the end of next week, I believe). Thus, we will see while the maximum of the local range is drawn.

Secondly, there are options: Break down at 1.1509, fix below, and continue the trend down.

One option is to draw a "second bottom" in the area of 1.1500 - 1.1600 and consolidation. Next is the exit or up or down.

We are taking positions in a new direction.