• Vasily Trader

EURUSD: Decisional Year Ahead! Major Reversal & Waves

DXY weakness initiated a strong bullish trend on EURUSD from this year's spring.

Weekly time frame shows that the price is very close to a major weekly resistance cluster.

2018th structure high will be an important decision point for the pair.

Bullish violation of that will signify a major shift in a market trend and initiation of a long term bullish trend on EURUSD .

In case if the resistance is respected, we may expect a bearish wave all the way down to the support of the 5 years' weekly range.

With the complex fundamental situation and uncertainty with covid, it is hard to say what will happen.

However, we can not deny that in dark times money flows to dollar.

So I will stick to a bearish scenario.

What do you think will happen?

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