Hence EUR/USD failed to visit 0.92xx [Chart.1] where down move triggered with ECB's QE started at May 2014, was just a knee jerk reaction when correlated with gigantic accumulation starting from 2008 to 2014 [Chart.2]. The gigantic 4,000 pips band width with 6 years of accumulation is literally failed to weaken EUR.
When looking big picture [Chart.3] 1971-2018, there are obvious penetrations to all time 50% level created in the past and it actually bounced from 1.05xx where 50% is at 1.07xx
Since I am bullish from 1.06xx with different reasons, the actual big picture shows us that the decision was right and yet there is still huge gap above for EUR to go further.
I am really not concerned with the Descending Trend Line [Chart.4] above where it actually standing at 1.26xx to be honest and yet still expecting EUR/USD to go higher 1.28xx at least for the moment.
To sum up. I have no change with my bullish bias until it visits 1.28xx, then we might see another consolidation/accumulation zone.
Good luck and trade well,
Walker.
