In January, I drew the dotted-green "Projected Upslope 2016," based on the long-term pattern. The Euro
has trended upwards against the US Dollar
since then, keeping just clear of the projected upslope. The Support Zone
(green triangle) was breached, indicating a modification of the Channel: the purple box. Taking this as a guide, I would say that the graph is back in the Resistance Zone
now, ready for a downswing soon.