More and more over the past two years I’ve become reliant on the ultra long term charts for bias on most vehicles.
You saw this in my calling the top in USDJPY 4 months ago just before we saw it go from 123 down to it’s current 107. The monthly called that even though most shorter term charts were extreme bullish.
Here we have the EURUSD monthly chart.
Not much to say here..but ~1.30 and beyond sometime in next few months is a possibility..
The extreme USD strength that contributed to decimating the commodities complex and all the repercussions therein is probably over.
USD flows to emerging markets and EU countries like Czech Republic (solid PMI prints that arent getting much media attention yet) might offset even the most dovish EU Central Banking apparatchik machinations.
The best charting teacher I know: