The Euro has been mired in a downtrend for the majority of the past 12 years, creating lower highs and lower lows inside of a falling channel.
This downtrend is marked by each (1) in today’s long-term “monthly” chart of the Euro currency.
Is the long-awaited bull market in the Euro about to take place?
The Euro has created higher lows over the past 4 years at each point (2). And even more bullish is the fact that strength in the Euro has led to an attempted breakout this month at (3).
Big spot here for the Euro and all traders and investors that follow the currency markets. If the Euro is to create a new trend higher, its first big hurdle will be to climb above its 2018 highs at (4). Stay tuned!