In my weekend basic Andrews type analysis on the Euro$ and it's gap i had tried to look closely at the current levels and price activity. However i always have believed that long term ML's effect current price and over the last few days have spent a considerable amount of time trying to see if there might be any long term ML's that tie in with whats going on here at these levels. What i found surprised me...I went right back to monthly charts and drew some obvious and not so obvious MLsets and then played around and 'Schiffed'/Mod 'Schiffed' and the results were dramatic. If you reproduce (with great care at Monthly level) the same P0P1P2 of the above ML's you end up with some impressive lines that price undoubtedly interact dramatically with price and the number of gaps along these lines over the last few years is remarkable...here is the result in Metatrader with day and 4hr below bringing us up to date with today's dramatic position. If you add in the Reaction lines (not shown except for one in dotted blood red in 4hr chart) for the long and medium term forks you get an invaluable tool for price forecasting but however good these lines are you still need an trade entry setup. If you go back to my weekend chart analysis of the Euro$ you can see it all makes sense and ties in with the action/reaction/MPL's etc.
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