#EURUSD : Monthly Chart

ByCaring You Online

Jun 5, 2021 #DOLLAR, #DXY, #Forex, #Forexmarket, #Forexnews, #JPYINR, #SILVER, #USDINR

I kept on sharing #EURUSD and #GBPUSD monthly charts and discussed that both pairs have given massive breakout on monthly charts and heading higher highs since March 2020.

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Both pairs already has given breakout from falling wedge / Triangle pattern and Target is coming around all time high for both pairs

Last week one news came from Russia which shattered the world market and it was food for thought and warrants serious consideration

Russia said that it will exit from all of its dollar assets in country’s National Wealth Fund and it will increase investments in gold, Euro and Yuan. It has decided to withdraw from dollar assets completely and replacing investments with an increase in Euro, gold and Yuan.

This change we already started to witnessing in #GBPUSD and #EURUSD price action and price always ahead of news. Very soon we can hear other countries will also follow the same and start exiting from Dollar assets and will keep investing in Pound and Euro which result in huge demand in both #Euro and #Pound. When you see monthly charts of both pairs you can see both indicated the same thing one year ago through price action and since then both are consistently going up month on month basis

Now what we can expect and can happen Next :

I am expecting #EURUSD to come around 1.60 levels till 2026-2027 and now think what would be the price of #EURINR at that time ?

If we calculate simple arithmetic then try to calculate price of #EURINR through #EURUSD and #USDINR ( Please refer my old article how we can derive such values )

#EURUSD if comes 1.60 then #EURINR price could be derived from this formula :

#EURINR : #EURUSD * #USDINR

Also I am considering 15 to 18% crash in #USDINR till then and expecting #USDINR to trade around 60 levels ( Which could be rare case as #RBI wont allow this with higher possibility )

Then :

#EURINR : #EURUSD (1.60) * #USDINR (60)

#EURINR price comes to 96 Rs in rupee terms

And if #USDINR keeps on hovering around 70 levels or it can also increases then #EURINR bear minimum value comes around 112-115 Rs in rupee terms

I feel this bull cycle of #GBPUSD and #EURUSD will keep continue this whole decade till 2028-2030