... and because of this banal fundamental lunacy the US Dollar should continue to be toasted until the end of the year time magnet is due. At least.
The EURUSD Forex pair on the weekly chart is breaking out strongly above its 4-month trading range what was a yearly main resistance, now future yearly main support. Wednesday was the second consecutive bull day with a big body and closing near its high and above the trading range. That was enough for the traders to conclude that the breakout cycle will succeed:
On weekly base traders should use the above at # 1 // 2020 Low anchorable 22 Candle GUNNER24 Up for trading, forecasting and signaling. The circular Blue Arc WAS the multiple-time negative tested main resistance of the 4-month trading range. A major important resistance rail on weekly closing base. The 1.2020 first square line resulting mathematically from the dimension of the 22 weeks upward impulse marked the highest resistance rail of the trading range and became finally confirmed at the # 24-top what exactly tested the first square line from below.
The last week close was the very first weekly close above the firm Blue Arc resistance. This delivered the first strong weekly buy signal. This week candle was the next weekly buy signal as it closed far enough above the 1.2020 first square line resistance after the perfect backtest of the 2*1 Support Angle at this week lows.
This very successful test of the 2*1 Angle, followed by a next mighty uptrend candle, is signal for massive bullish forces underway actually.
==> 2 consecutive weekly buy signals finally & decisively broke a 4-month trading range what has formed just shy below the former cycle highs ==> We observe a MAJOR bullish breakout cycle is getting started and nothing should be able to stop the breakout cycle from working off the activated lower line of 1st double arc uptarget quickly and finally.
Usually the lower line of 1st double arc GUNNER24 Uptarget work off will happen at the turn of the year time magnet because there is an attractive backtest magnet regarding time existing what can be derived directly from the over early-January 2018 printed extremes of that year.
For the due and likely very important turn of the year time magnet the lower line of 1st double arc target runs at the 1.2440 and this is why this is the uptarget of this powerfull breakout!
==> Obvious & necessary shortterm uptarget is 1.2440/for year change time magnet!
There is another major important breakout uptarget as well.
The perhaps most influencing future uptarget resistance magnet is the February 2018 high resistance horizontal and the now also activated GUNNER24 upper line of 1st what forms a MAJOR RESISTANCE MAGNET at 1.2555! Means, this weekly breakout cycle maybe has even to aim the final high resistance of the year 2018 major backtest area on yearly base sometime in course of February 2021.
In a perfect investing world a daily pullback would test back the 1.2020 first square line and so the upper band of the 4-month trading range before the breakout would continue into activated 1.2440 breakout uptarget.
There is the chance the bulls will start to take some profits soon because the daily uptrend what started at # 1 // 1.16025 final November low, with the # 24-Friday candle was rejected at the lower line of 2nd double arc uptarget resistance within below valid daily 3 Fib number Candle GUNNER24 Up. If the profit-taking lasts more than a day, there will be a pullback.
The traders for sure will buy the pullback. The bulls who missed this week rally are eager to join the train. The bears who are short are desperate to quit with a reasonable loss.
With both the bulls and bears wanting to buy, the pullback on daily base should be brief. We shouldn`t expect more than a weaker 2, 3, 4-day pullback and such a pause in the bullish breakout cycle likely only has to test back the nearest most important daily support what could be the 1.2040 GUNNER24 Support Horizontal that springs from the highest price of the on Tuesday finally overcome upper line of 1st double arc.
The 1.2040 could be an ideal daily pullback support because the Wednesday low has hit that horizontal from above and traders may buy another hit of this horizontal within a daily pullback swing that could be triggered by the lower line of 2nd natural resistance rail!
Watch it carefully. How harmonic regarding time and price important stuff does unite at the turn at the year time magnet and at the 1.2440 surroundings. For then potential due breakout uptarget of the 3rd double arc fits with the future 2*1 Gann Angle course and the unusual sharp-defined and 3 times in a row negative tested red-lined "2020 Daily Main Resistance Upmagnet"!
This is a Bullish Uptarget Resistance Harmony sitting here at 1.2440 at the turn of the year time magnet, formed by the daily and weekly charts and the corresponding GUNNER24 Up Setups and the final highs of the year 2018 price time magnet what have arrived early-January 2018 to mid-February 2018!!
==> Unusual attractive heavy-main resistance breakout uptarget magnet at 1.2440 = possible MAJOR Resistance Magnet, what could trigger a major important high or an at least intermediate high on monthly base!
- with daily trades – quick, safe and profitable…
- in well-chosen precious metals, commodities, indexes, currencies and in the best trending stocks worldwide...
- in both rising and falling markets…
- with little use of capital…