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2022 is coming to a close, and this is the opportunity to analyze the 12- month candles.

This is what I´m looking at on a long-term basis (yearly candles):

First of all, we can see that a clear range has been established since 2015, from the 1.035 to 1.235 zones.

We can also see that the confluence of the bottom trendline and support zones, have acted as VERY trustworthy bounce zones:

My bias for 2023:  I expect short term dollar strength to retest the 1.03 support zone (maybe even 1.00), and a rejection back into the range, for a rise of the Euro.


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