EURUSD Technical Overview : 1.17200 has been reached
As we have mentioned in our previous analysis EURUSD I SHS PATTERN , EURUSD has reached 1.17200.
Fundamentally: Italian Bond yields hit 3 months high on concerns over the country’s spending policies. This can be the foot steps of a new crisis in Eurozone.
Technically: As we have mentioned in our analysis, target of the I SHS pattern formation is 1.19500.
1.17200 is the key resistance. If the pair makes Daily Closings above 1.17200, the targets of the pair will be 1.17800 and 1.18400.
The main trend is still bearish and bears will be waiting for a fresh selling opportunities.
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
EURUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility