The time windows tell us the market is at the fork in the road. This one comes at a point in time where time resistance meets price resistance. There isn’t going to be a lukewarm reaction here. But understand that it could a process and not an event. The process could be a volatile shake of the trees that flames out and then goes much higher. Another scenario is we could top out here. Finally, if accelerate we could just keep going and then Euro bears have to cover. Your job is to recognize that some points in time are more important than others and realize this could be one of the most important sequences of the entire year.
Finally, here’s the long-term chart of the EUR-USD. When we connect the dots we see the line thru the 2000, 01, 02 and 2010 lows is in the general area of where we are right now. Let’s just say the 2000-2010 line is 2 dots. If this low holds it will validate the line and then you’ll likely see the squeeze. This is a process that can take some time.
I finally opened a Twitter account last week. I resisted for a long time because I couldn’t make the time commitment to it. Now I can do it. You can follow me @JeffGreenblatt. I’ll put my own unique spin on the market there.
Click chart to enlarge
Jeff Greenblatt is the author of Breakthrough Strategies For Predicting Any Market, editor of the Fibonacci Forecaster, director of Lucas Wave International, LLC. and a private trader for the past eight years.
Lucas Wave International (https://www.lucaswaveinternational.com) provides forecasts of financial markets via the Fibonacci Forecaster and other reports. The company provides coaching/seminars to teach traders around the world about this cutting edge methodology.