The EURO STOXX Banks index (SX7E) is continuing its rally off the neckline of an inverse head-and-shoulders pattern with no clear resistance in sight until beyond 100.00, according to Andy Dodd, Head of Technical Research at Louis Capital Markets.

The target for this bullish reversal pattern is 107.68, though Dodd expects some resistance at the 200-day moving average on the way up (currently around 101.50).

See Chart.