EURUSD hist 100 months moving average for a 2nd time during the past 2 years. We also approached yearly R2 pivot reversal level.
In 1986 and in 2003 on the 2nd approach to 100 MA bullish move continued after congestion with retracements. In both cases there had been a stall and congestion at 100 MA on monthly. It is very likely bullish move will continue above 100 MA as July candle is very bullish. But I expect congestion at 100 months MA also this time. It may take 2-3 months before the bullish move continues. Now I would expect a pullback to untested monthly pivot.
In 1986 and in 2003 on the 2nd approach to 100 MA bullish move continued after congestion with retracements. In both cases there had been a stall and congestion at 100 MA on monthly. It is very likely bullish move will continue above 100 MA as July candle is very bullish. But I expect congestion at 100 months MA also this time. It may take 2-3 months before the bullish move continues. Now I would expect a pullback to untested monthly pivot.