The European currency has been under pressure from the leaders of the European Union for 3 weeks, who have noticed that the currency is too strong. The policy of many countries at some point begins to change to bring the greatest benefits. At the same time, we see a stronger and stronger dollar, which may bring a larger correction after a long time. I am writing a larger correction because about six months ago US monetary leaders announced that they did not expect the Dollar catching up to bring about a “V” reversal.
In the event of further declines in the Euro, a possible scenario is marked in both photos. In case of local support breakthrough, it is possible to fill OberBalance which is on the border of very strong support.