If we watch the monthly chart we can see Euro currency index is in a strong downtrend since the Great Recession.
The price now arrived to a support zone which is the 100. In my opinion it's a psychological support/resistance level, cause 100 is a whole number. At this point the price can go upward to the downtrend line, which location is at Fibonacci's 23,6% support/resistance. On the monthly chart we can see when the price arrived to a support zone and start going upward, its gone on the same formation(I marked on the charts). If this formation will repeats, the price will going up to Fibonacci's 38.2% resistance and fall down to 23,6%, then going up to the monthly downtrend line.
The price now arrived to a support zone which is the 100. In my opinion it's a psychological support/resistance level, cause 100 is a whole number. At this point the price can go upward to the downtrend line, which location is at Fibonacci's 23,6% support/resistance. On the monthly chart we can see when the price arrived to a support zone and start going upward, its gone on the same formation(I marked on the charts). If this formation will repeats, the price will going up to Fibonacci's 38.2% resistance and fall down to 23,6%, then going up to the monthly downtrend line.