Euro looks technically vulnerable

27 September, 2017

Euro looks technically vulnerable

The Euro has come under pressure in recent days and now it seems its becoming technically vulnerable on the back of a head and shoulders pattern that has formed over the last month. Since hitting a peak which is the head at around $120.30 the currency has crashed down through the neckline (2nd line from the bottom on the chart) and this is a serious bearish signal. This may be a turning point for the Euro and we may be in for a serious reversal with the first resistance coming at the bottom line which as we can see was a previous support level.


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