EURUSD heading for potential reversal point
An extended line drawn from the high of August 2015 to the high of May 2015 is now within reach .
With ever increasing overbought conditions on the higher time frames this is now an area of increased interest.
The fundamentals remain very BULLISH for the EURO so it will be interesting to see what happens if this level is hit (difficult to be exact but 1.1470 area).
If price pushes through this barrier then 1.1606 will be next followed by 1.1713 . Above that is the Weekly 200 sma at 1.18 area.
If the EUR fails at 1.1470 then expect a m ove back to 1.1200 area
With ever increasing overbought conditions on the higher time frames this is now an area of increased interest.
The fundamentals remain very BULLISH for the EURO so it will be interesting to see what happens if this level is hit (difficult to be exact but 1.1470 area).
If price pushes through this barrier then 1.1606 will be next followed by 1.1713 . Above that is the Weekly 200 sma at 1.18 area.
If the EUR fails at 1.1470 then expect a m ove back to 1.1200 area
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