I will give certain examples below
January 2017 Low (1.1986) - (1.3656) September 2017 high contained 1670 pips distance which followed by a fall from 1.3656 to a drop 1.3027 in October 2017 being 630 pips retracement before trend continued its journey to 1.4375 January 2018 High.
There are many examples like this which shows after price moves by 1500 - 1900 pips within a year, it is usually followed up by 500 - 1000 pips retracement before whichever journey it wants to take again.
Latest example is May 2020 low of 1.2073 to September 2020 high of 1.3482 contained 1410 pips which was followed by swift 808 pips drop from 1.3482 to 1.2674 October 2020 low.
Now here we are again at 1.33 area. For me that move from 1.2073 is still repetitive to 1.3380/1.3480 area before another fall will be imminent again to 1.26/1.28 area considering year 2020 is just 6 weeks away from completion, i expect the current year 2020 range of 1.1408/1.3482 to remain unbroken. Year 2021 will begin with its new direction and likely to break that 1.3480 area to 1.3680 area at first attempt within first 3 months of 2021. This is my view and i may be wrong but one thing is constant which is exchange rates always respond to distance covered.
Data + Stat + Risk/Emotions Management
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