EURUSD has reached confluence resistance and may head lower now
In the last couple of weeks, EURUSD has managed to bounce significantly after establishing a new year low at around 1.0880.
However, the rally may be coming to end soon. The daily chart shows that the pair is very close to a major resistance zone, defined by the upper trendline of a descending wedge and the 38.2% Fib of the 2019 decline. At the same time, 10-day RSI is giving an overbought signal. A possible move towards 1.10 should not be ruled out.
dailyfx.com/espanol/forex/alertas_diarias/2019/10/17/Euro-hoy-EURUSD-sube-con-vigor-por-el-acuerdo-de-Brexit-pero-los-riesgos-no-desaparecen.html
However, the rally may be coming to end soon. The daily chart shows that the pair is very close to a major resistance zone, defined by the upper trendline of a descending wedge and the 38.2% Fib of the 2019 decline. At the same time, 10-day RSI is giving an overbought signal. A possible move towards 1.10 should not be ruled out.
dailyfx.com/espanol/forex/alertas_diarias/2019/10/17/Euro-hoy-EURUSD-sube-con-vigor-por-el-acuerdo-de-Brexit-pero-los-riesgos-no-desaparecen.html
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