Initial support is seen at 95.95 – 95.75 followed by lower support at 95.0 – 94.75.
A bullish follow through above the first support with a breakout above 96.55 which marks the bull flag’s high could signal a longer term rally that could see 97.45 followed by 98.55 levels being marked as the minimum price objective here.
The bullish view could, however, turn...
The Euro is still winding tight and most likely will until the ECB interest rate announcement on Thursday (21st). We are still watching the break areas. If we can get a trigger before the Tuesday close (US close) then we will take it. After Tuesdays close we will wait until news from the ECB.
