EURUSD - Very long-term chart - some perspective.

The chart below is the monthly chart of the EURUSD going back may years. Looking at the longer-term charts allow one to step back and offer a long-term perspective....

It is quote possible, (and this is something I have alluded to in the past) that the price action of the past few years has created a huge 'Bull Flag' pattern, which suggests significant gains for the Euro in the years ahead. (I would add the caveat that this assumes the patterns remains valid, which will probably mean remaining above 1.4000 in the coming months). - In light of this, price action in the past couple of weeks can be seen as part of a re-test and consolidation of the break-out of this pattern. I would expect further consolidation in weeks and months ahead, which suggests that much of the price action may remain between 1.40 and 1.50. - A solid break over 1.5000. I believe would be the start of further significant gains (Though in the current environment I do not think this is likely, whilst back below 1.4000 may start to call into question this particular longer-term view.

One further point, totally unrelated to markets:
As a huge football fan (Soccer for those of you who think carrying a ball is football), this weekend has been the magnificent and the ugly for followers of the beautiful game:

• First the magnificent; what a treat Saturday night was, Barcelona were incredible, a true joy to watch, I have had the pleasure to have seen them in the flesh twice over the past couple of years and they are truly mesmerizing to watch (even though it was against my beloved Arsenal). Saturday night was one of those occasions when 90 minutes was just too short.  - 
• Now the ugly - FIFA - the sooner Blatter and his cronies dissappear into the sunset with a rocket up their arses (asses) won't be soon enough,,, get out of our game and stop killing it...

Have a good day, regards

Steve