FXstreet.com (Barcelona) - The EUR/USD is looking to retrace priced in expectations regarding the EU Summit after a German source said the EU summit would produce no detailed decisions. History may be bound to repeat, with a EU Summit disappointing once again.
After having reached 1.2524 high in the Asian session, the pair didn’t hold the 1.2500 level and fell sharply to 1.2407 low, trading currently at 1.2420 area. Meanwhile, the Spanish 10-year bond yield is at 6.99%.
“After the drop from the double top at 1.2740 the bias is bearish with a possibility of a correction towards the 1.26-1.2640 zone”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to 1.2435 and 1.2335 as targets.
After having reached 1.2524 high in the Asian session, the pair didn’t hold the 1.2500 level and fell sharply to 1.2407 low, trading currently at 1.2420 area. Meanwhile, the Spanish 10-year bond yield is at 6.99%.
“After the drop from the double top at 1.2740 the bias is bearish with a possibility of a correction towards the 1.26-1.2640 zone”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to 1.2435 and 1.2335 as targets.
