Back on 09/26/21 we posted about the longer term price action forecast for the Euro. The monthly charts had already confirmed a top in August and price was poised for slippage lower if we managed a monthly close below 1.1700. In September, the monthly close near 1.1580 was enough to extend the move lower and lead us to where we are today at 1.1140.
Just last week we published an article when the Daily EURUSD chart had confirmed a new lower high near 1.1330 and we projected a move below 1.1150 in the short term, which has come to fruition. With just a few more days remaining to close out January and the reinvigoration of higher US interest rates, the long term target of 1.0990 may arrive sooner than later.
The last remaining monthly dynamic support levels appear at 1.1120 and then again at 1.1035. Beyond these levels, we patiently wait for February to present new opportunities.