On the flip side, in a broader perspective Euro has been collapsing from the peaks of May 2014 although some stability was seen from last month (steep jump from 03rd December) and made almost when it has collapsed to lows of 1.0516 from mid October's highs 1.1495.
Nevertheless, this should not be deemed as sharp recovery, still there is no trace of recovery despite all attempts by euro area leaders the pair has firmly rejected several times at 23.6% retracements from the lows of 1.0462 on monthly charts.
While leading oscillator has started evaluating when the prices touched 1.0885 by taking the computation of last 14 days periods the magnitude of recent gains to recent losses in an attempt to signifying the overbought pressures.
(14) on EOD chart converging with falling prices (Currently, trending at 53.5766 while articulating).
While %D crossover on slow curve with every price dips has kept selling pressure on check (Currently, %D line at 31.4656, while %K line at 20.9339).
Most importantly, massive volumes build ups on every price dips and even on sideway trend (see grey shaded areas) confirm us of this pair still remains intact.
Hence, we could foresee immediate strong support at 1.0816 and it fails to hold this 1.07 cannot be ruled out, a cyclical low of around 1.08 to hang in Q1 2016, and a slow uptick may be foreseen from there to 1.11 by June 2016 and 1.13 by Q3 2016.