For forecating purposes Weekly Chart will be used. Weekly Chart is the basis for the forecasting longer term trend. Looking on Weekly Chart we can see that the overall trend has changed in May 2015. From June 2014 until May 2015 the EUR/USD printed lower lows and lower highs (marked with red line) on Weekly chart, which means the pair was downtrending.
In May 2015 the pair has broken the formation (lower low, lower high) and printed out higher high (last red line was broken upwards) and also …
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