€/$

The euro broke its long term rising resistance line at 1.4000.
Elliotticians often calculate Fibonacci extensions to project the length of Elliott waves.
In this case, the fifth and the first wave patterns are often equal which means a minimun target between 1.43 and 1.44 for the coming weeks.
If we report the width of the long term bullish channel to the breakout, we arrived at the same target