If the Euro wants to stay positive for the year against the dollar its going to have to hold the brexit spike low @1.09115 this is also a 100% Fib extension from the 2016 high to May's low back up to the high in June. My longer term invalidation level is set @1.1188 this is also a of the High to low of 6/20 brexit We also have some resistance a little passed that level to get through before I get to in the long term.
- Still in a consolidation of the descent of 2014 - 2015 (Long term )
- 2016 has been trading in between the highs of Oct 2015 @1.1495 and the lows of Dec 2015 @1.05168.
- Broke support going back to Dec 2015 and tagged it as resistance earlier this month Jul.
- Brexit spike low @1.0911 also 100% Fib extension from high of 2016 to the low in may to the high in June.
- July been in a consolidation of the brexit.
- Price retraced 50% of the brexit day which is now my long term invalidation level @1.1188
- Price is just above the 2016 open. the Euro is only 0.15% higher against the Dollar.
- Daily has been for 2016 (Above 60 and above 40) brexit close held 40 and the 22end held 40 putting in divergence (Still momentum)
- Watching daily to break and 50 confirming momentum.
- The daily is with the KS @1.11692 just below my invalidation level.
- Price close and is now trading above Tenkan - Sen.