EURUSD long time position (monthly time frame)

2020年9月30日

Since '01 JUL 2008' eurusd chart started a downtrend toward a price support area(pink rectangular).trying to break the support for three times, trend finally broke it on '01 JAN 2015' and moved below until it touched fibo extension 1.618(yellow line).after digesting a one year delay, the chart started a minor bullish trend and touched the resistance zone( pink rectangular) and reacted to it by retracing to 0.786 fibo line on '01 MAY 20' and used it as a temporary support price( green line).then moved up to reach the condense resistance area made by static resistance price(pink rectangular) and dynamic trend line resistance (red line).firstly by not making a lower low and secondly by touching the trend line and passing and pulling back again to it, the chart shows some willingness to change the trend. if the price go up and reach 1.25 and pass it the break will be confirmed then. otherwise the downtrend is still valid.