Why EURUSD could run to 1.25
- EURUSD could be headed for 1.25
- Resistance at 1.20 not particularly firm
- RSI was rejected at the 60 threshold
Where it could or will hit the trendline is not easy to answer as its falling, but I have tried to draw a possible move on the monthly chart (green and red lines) and confirmation of the triple bottom pattern gives a potential price target between 1.24 and 1.28.
The correction area could very well occur between the 55- and 200-month MAs, which would then serve as the fourth wave of a classic five-wave scenario.