For the last several years, Gabriel has believed the long term downtrend in EURUSD would result in the Euro reaching well below parity eventually with the US Dollar. Today, however, he’s seeing early signs of a potential trend reversal. If the uptrend forms, it could last for the next ten years.
In this 10 minute video, Gabriel analyzes the monthly and weekly charts but actually, it’s the daily price pattern right now that will offer the first confirmation of the new uptrend. A failure of the S1 Busted Breakout pattern on the weekly chart would be significant and further confirm his view that the Euro is in a very early trend reversal up. Gabriel has also found confirming patterns for a new EURUSD uptrend in other FX pairs, and even Gold and Silver. Further, Gold and Silver could catch fire soon providing lots of upward momentum in price.
Note: The Daily bar (mentioned in the video) has not closed above the critical level.
To fulfill the condition one of the following daily bars needs to do so first.