EURUSD Overall Structure Remains Firmly Bearish But Extended Upticks Not Ruled Out

The Euro is trade during a tip side of near-term consolidation, spanned between uninformed low during 1.0567 and converging tops during 1.0650 that symbol decent insurgency for now. Fresh liberation from event low during 1.0603 is aggressive again 1.0650 separator (also tip of thick hourly cloud), with postulated mangle here indispensable to vigilance extended recovery. Sustained mangle aloft would open subsequent focus during 1.0671 (Fibo 61.8% of 1.0744/1.0567 downleg) and vigilance serve upside on violation.

However, a pierce is seen as medium improvement of high 10-day descend, before uninformed bears pull towards pivotal supports during 1.0519 and 1.0461 (lows of Dec/Mar 2015). Series of prolonged bearish candles on post-US choosing fall, continue to strongly import on near-term structure and advise singular improvement forward of uninformed bear-leg.

The tip breakpoint lies during 1.0744 (high of 17 Nov/ Fibo 23.6% of whole 1.1298/1.0567 fall) and usually postulated mangle here would doubt near-term bears.

Res: 1.0656, 1.0671, 1.0700, 1.0740
Sup: 1.0603, 1.0567, 1.0519, 1.0500