It's Still All About The Euro

The last trading days, the Euro has been rallying. It has now touched the old breakdown point at about 1.215

The Euro has that classic reversal pattern on the hourly chart, so a reversal down from here would not be unexpected.

Let’s see what The Euro does in the morning, because it has controlled the course of risky assets since it started to implode in April. A break above 1.215 that sticks and the lows for the correction may be confirmed.

I am by no means suggesting that The Euro is out of the woods. It has a lot of work to do to undo all the damage it has sustained.