Everyone can see the chart, but only a few can actually read it.
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EURUSD: Charts Point to 650-Pip Drop in 2023
The EURUSD is flirting with the 1.0760 level today ahead of significant event risk this week, including CPI on Tuesday, FOMC on Wednesday, and an ECB rate decision on Thursday. It’s an incredible line-up that will produce substantial volatility for EURUSD. As such, trading the euro this week is risky, considering the stop-hunting likely to occur over the next three days. So it seems fitting to discuss a longer-term outlook for EURUSD today. Let’s kick things off with the 12-month EURUSD chart. Each candle on the chart above represents 12 months or one year. It’s a chart most traders ignore because it takes an ... (full story)