I believe EUR is just finishing wave 4 of the first leg of five on the bull move up. Wave five will complete in October 2017 with wave 2 corrective down likely finishing the year with the big wave three move going through most if not all 2018.
There is a 1 hr CCI support level at 1.17104 area price may bounce here.
I will watch the 4hr RSI to see if it goes under 20 or bounces or goes through and then
wait until RSI is back up over 20 to indicate this move is done. If it goes through this area with force
I would think 1.164 would be the next area to eye followed by the weekly 23.8 Fib at...
I expect EU to retrace a bit more and then head to 1.204 area.
Daily CCI and weekly 23.8 Fib area appear like a great resistance area. 4 Hr CCI spiked over -200
quickly from over 130 this indicates to me that the move is for the most part over and should not go to
much further. Which puts the 23.8 fib and a daily CCI spike of over 200 as the perfect zone to...
EU has not broken a key support level and Dxy can not seem to break back up past its new resistance level. I expect EU to hit 1.179 to 1.183 before retracing any further, as longs the key support and Dxy resistance holds at end of today.