A limited rebound still in sight for EURUSD as long as the price will be above 1610: buy above 1640 with 1675 & 1720 as tp before falling again. Failing to breakout above 1.1760 means a sure drop towards 1.1445. A daily close below 1.1445 will target 1.1200 before rebound.
Political risk for the euro area will be the focus next weeks with a possible early election in Germany on next September. #Merkel’s political era could be ended and to open to possible turmoil in EU, if #Seehofer Interior Minister will withdraw support to Grosse Koalition.
In Italy Lega and M5S consensus rising day by day and give support for others European countries for back to national currencies. A mass immigration from Africa towards Italy without solidarity from northern Europe will accelerate the disintegration of European Union.