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With the final close of the 2020 trading year, the EURUSD Forex market closed above the Mother of all Bull Flags for the very first time on a monthly closing basis, which began to unfold after the alltime-high (ATH) of the year 2008.
Breaking a MILLENNIUM Bull Flag resistance with the very last month close of the very first trading year of a new DECADE is a buy signal on DECADE base, what usually means EURUSD by this fired a very sustainable buy signal.
A fresh DECADE buy signal fired at the beginning of a new DECADE usually means that at least the first 2, 3 and maybe even 4 trading years of the new DECADE should be bullishly supported...
Therefore a for 13 years lasting bear market of the Euro compared to the US dollar can now officially declared to be over. The EURUSD has started a some-years long bull market at # 1 // March 2020 Low where considerable bullish tension has formed throughout 2021, which is likely to be resolved to the upside very soon.
Dear breakout traders, above you will recognize the most ruling monthly GUNNER24 Up Setup what is a bit unsual monthly 10 Candles up. You oberve the Blue Arc is measuring from the # 1 // final low of 2020 into the final high of 2020 what has arrived at the bullish extreme of the 2020 December candle.
With the very first trading day of June we got one more strong confirmation that the Blue Arc represents actual strongest resistance above. May 2021 top is at Blue Arc resistance. June 2021 top is at Blue Arc resistance and cause Blue Arc measures from a final year low into a final year high we can assume that the Blue Arc actually radiates main resistance on a yearly base.
Another confirmation, an indirect one, for that Blue Arc represents strong bear energy on yearly base is the sighting that the so far 2021 Top EXACTLY found heavy resistance at natural first square line resistance from below.
First, the Blue Arc is now two times confirmed yearly resistance arc. Second, first square line running at 1.2350 is another future yearly resistance. A perfectly-confirmed horizontal yearly resistance what is in full mathematical connection to the 2020 Top and of course also to the 2020 Low.
Now pair shows a June 2021 top what is a small lower high compared to the May 2021 top.
But now it can happen that the closely spaced yearly resistance nest formed by Blue Arc & first square line will be finally overcome very soon because the actual state of the bull market is that according to the rule of 3 and 4 the time factor is ripe for the bull breakout. In such case the so far 2021 Top/first square line upmagnet target should be A) reached first and rapidly!!:
==> First uptarget for EURUSD is at 1.2350!
B) and what should be even much better for all EURUSD bulls: We can assume that the so far 2021 Top resistance horizontal will usually be surpassed by far in the next attempt of the bulls, because overcoming the Blue Arc in this particular case should trigger very powerful positive forces. Such a very bullish outcome promises this next shown also bad ass-working weekly GUNNER24 Up Setup...
==> We prepare for this major bull event likely taking place within a few weeks! And therefore place a EURUSD Buy-Stop order shy above the so far June 2021 high what is at the 1.22544:
==> I place an EURUSD Buy-Stop order at 1.2255 to get stopped in a bullish breakout!
Tight weekly Bull Flag forming which obviously is controlled by the lines of a GUNNER24 Double Arc! And we bullish traders like to remember the rule that tight bullish consolidation patterns tend to break to the upside.
This is a weekly 19 Candle up starting at # 1 // 2020 Low, showing so far 2021 High with 99.5% ACCURACY has arrived at natural lower line of 1st double arc bull market uptarget and both extremes, the May 2021 top and so far June 2021 top with an 100% ACCURACY have met the natural resistance of the upper line of 1st double arc from below.
==> The upper rail of the 1st was another important bull market uptarget out of the final low of 2020 and of course actually nearly perfectly represents a combined weekly and yearly arc resistance magnet.
The price structure is that EURUSD now already has 4 consecutive weekly closings within the lines of the 1st double arc what is extraordinary bullish development/pause/consolidation/Flag on the weekly chart. Whereas the lower line of 1st acts now as strong future weekly support.
Such closings within the lines of a prior confirmed GUNNER24 Double Arc resistance is the pre-signal that the final upward break of the 1st – in main trend direction – is imminent!
=> OR, the Price factor has now fully geared up to blew all major nearby resistances soon!
IMHO, when the price in course of the next few days or few week candles will be able to trade above the June 2021 top this upper line of 1st will become finally broken to the upside and usually the bullish breakout should lead to the backtest of the major important 2018 Bear Market countertrend highs which run at 1.2550 future main resistance surroundings.
That COMBINED big bull market backtest & big year 2021 backtest uptarget of 1.2550 should be the main uptarget of the looming big breakout, cause the in resistance-red highlighted future horizontal 1st double arc resistance area and the old 2018 Countertrend Highs form nearly perfect future set GUNNER24 Uptarget Resistance Magnet!
==> Bet is that a 6 to 10 weekslong EURUSD bull breakout cycle starts within next 10-13 days or so from about a 1.2050 to 1.2020 and such next rally cycle should find the major important backtest magnet represented by the 2018 Countertrend Top at 1.2550!
ONCE this weekly upper line of 1st resistance will be overcome on weekly closing base in the foreseeable future the GUNNER24 Method activates the lower line of 2nd double arc as next really important bull market uptarget what maybe must be worked off at a 1.28 to 1.29 towards end of 2021!
A final overcoming of the above weekly upper line of 1st in the foreseeable future at same time usually would have overcome the within monthly 10 Candle up setup worked out tight Blue Arc & first square line resistance nest. Such a combined bullish price event usually would be a major buy signal, so a bull market continuation into at least the end of 2021 and/or a 1.28 to 1.29 towards the end of 2021 would therefore also seem somehow appropriate to me.
Gold, silver, platinum and the related Miners should take off like a rocket when EURUSD pair delivers the very first weekly close above the upper line of 1st double arc resp. now forming weekly Bull Flag resistance.
So dear Precious Metal Bulls, you better prepare to go all in soon ...
Be prepared!
Eduard Altmann
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