Hi Guys, today I'm here to speak about this cross and what we can expect.
These are just tips to take in, don't enter the market without having your own well-defined and backtested strategies.
Let's start.
Technical Overview
On a Daily Timeframe we can see that it's forming a reverse "Head and Shoulders" after a bullish trend since the beginning of 2017.
It will be interesting to see if the price will break the neckline on 1.167 and point to the next price structure represented by the rectangle around 1.14 or simply bounce.Fundamental Overview
Euro jumped back to $1.1800 region after Spanish government spokesman confirmed the application of harder measures against the rebellious region of Catalonia.
Spanish government spokesman Méndez de Vigo said the government is going to enforce the article 155. That means that the Spanish government intends to take control over the rebelious region of Catalonia as early as this Saturday, when the central government is set to meet in Madrid.
Earlier on Thursday catalan Prime Minister Puigdemont, in response to ultimatum from Madrid admitted that independence was not voted in Parliament and remains suspended, however, he warned spanish Prime Minister Rajoy that if he persists in preventing dialogue, the Parliament will declare independence. (www.fxstreet.com)
Any positive news from Spain on the weekend could push the euro to break the second shoulder and aim to the head.
What do you think about? Thank you.
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