Latest developments in Italy cause a massive sell-off in EUR currency. However it could be a time for a technical correction.
The EUR/USD has formed a triangle bottom around important camarilla levels. 1.1530-50 is the consolidation zone and we can clearly see a breakout. 1.1550 is the breakout level and the EUR/USD is targeting 1.1610. Final target is 1.1667. Until the pair makes a 4h or a daily close above 1.1667, scopes for further upside progression will be limited.
Nenad Kerkez aka Tarantula FX