The common European currency recently bounced off a dominant pattern’s resistance level against the Polish Zloty.
In the aftermath of that event the currency pair began to plummet until it reached down to the combined support of the monthly PP and the lower trend line of the junior channel up pattern near the 4.2150 mark.
However, in accordance with the larger scale situation that should not have occurred, as the pattern should be broken in the future, and a new junior pattern would form.
Due to that reason the rebound is likely to be short lived.
In the aftermath of that event the currency pair began to plummet until it reached down to the combined support of the monthly PP and the lower trend line of the junior channel up pattern near the 4.2150 mark.
However, in accordance with the larger scale situation that should not have occurred, as the pattern should be broken in the future, and a new junior pattern would form.
Due to that reason the rebound is likely to be short lived.