07 Sep EUR USD Weekly; Direction Unknown
EUR USD has been slowly crawling down this “supporting” trend line originating from the 2008 highs.
If traders really knew where it was going, it would have made it’s move by now.
If you have an opinion you really believe in, then this chart may help you define relatively safe stop loss levels.
Looking at the bigger picture, we have 5 consecutive Monthly lower highs. That said, I can see valid reasons for a break in either direction, and when this break eventually comes, I expect it will be powerful.