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[/et_pb_code][et_pb_text _builder_version=”4.8.1″ _module_preset=”default”]All right traders. Today we’ll take a look at the euro currency that is traded on the CME each symbol should be six E or could be EC, depending on what platform you’re using. But what I want to point to your attention is this right here. So you can see we have confirm a convergence of three different lines, these lines are historical price averages, based on 515 and 22 year historical price cycles, you can see these lines exactly back and forth. But what is important right here is that they all kind of converge, converge right here around the beginning of November, it then seemed to simultaneously pop higher. So when we have all these three cycles together, 515 and 22 years of data, that is some pretty powerful data. And we know that the data doesn’t lie. Now taking a look at where we are today. This is actually FX, ie the ETF that tracks the euro currency. And we are coming in to an area of plot of support structure that is very interesting considering the fact considering what I just showed you there based off of the seasonality. So this is a weekly chart over here on the left, this is a daily chart over here on the right, notice that on the weekly or the longer term timeframe, we’ve come down into this price structure, why is the structure because this is the area right here that we cause us to take out this old resistance and go up to new highs. Now you’ll notice that this is a first test right here that we got back in the early that we got back in early October, which is right around in here. But just because we got that first touch is not good enough, we need some additional confirmation. So knowing that we’re heading into a very favorable bullish time of the year for the euro currency, we are waiting and watching for the precise setup to occur on the lower timeframe. Inaccurate calm via the daily four hour or even hourly. So right now, we’re looking in watching for a potential one to three bottom at these levels. So that would be one confirmation getting up above the number two here want to wait 60 Alternatively, we be looking for some type of bullish divergence signals. You see we’re getting some bullish divergence crossovers, but we’re not yet getting our actual bicycle. So we do expect so we could see the Euro push back down a little further in here shaking out weak Long’s, and then that is where we might want to drill down to the lower timeframe. For a buck up higher first targets are going to be right up here at the 111 area. And then we’re going to target this area right here at 115. We’re going to keep our risk fairly tight here we’re looking for a long somewhere around this area anywhere from we’ll say 106 to 108 risk will be below these swing lows here below 107. Ish. And then we’ll be looking again for targets up here at 111. And then 115[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
