#EurUsd at a very important point (very long term view)
Since 2008's all-time high at 1.6, EurUsd has put no less than 5 lower highs on our weekly chart, and 4 of them can be very precisely connected with a descending trend line .
In June 2020 we have a break above this trend line , but the pair staled and reversed from 1.22-1.23 zone
At this moment EurUsd is trading at 1.12 zone, exactly in this falling trendline and we may wonder, is this a confirmation, or the Usd has resumed its 14 years trend?
So, I will work with 2 scenarios:
1. Reversal from here and EurUsd back above 1.15 which will give me the idea that the long term trend has changed indeed and we can have up continuation above 1.23
2. EurUsd breaks back under this trend line and, in this case, it's resuming its downtrend, and this time we can expect even a drop under parity.
