EURUSD Update, The Long-term Trend, April 9, 2018

EURUSD Monthly 20180409

Looking at the long-term 1month chart for eurusd, we see that with the downtrend trendline just near above, it would seem that eurusd has slowed down and perhaps it may now make top and reverse down. But then the counter argument is that for eurusd to reverse down it has yet to make a complete top, and it is the view that we have yet to see that top.

EURUSD Weekly 20180409

Also, looking at the 1month chart, we see that the uptrend trendline from the bottom at 1.1339 is still intact, so we cannot say that the uptrend has already finished. So we wait now for any signal that will indicate that eurusd has already made top. One indicator is that eurusd now makes a banner/pennant pattern so possibly eurusd will still continue uptrend and that the downtrend trendline near above will most probably has to be hit.

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