Today I would like to present to your attention the EURUSD monthly chart. Interestingly enough, despite all the tensions and the so-called "FX wars", whatever this means, the EURUSD exchange rate has gone pretty much nowhere since February 2015, when the market dropped below 1.21, which market the beginning of a new bear market, after a broad range of consolidation, starting in 2008. The market is consolidating in a narrow range between roughly 1.05 and 1.15. The ex. support at 1.21 has now turned into resistance, and technically, I see room for correction to test the 1.21 resistance. The downside is to be calculated once a short position is triggered, but it would be roughly in the 0.87s. Standing by, awaiting further development.
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