FXStreet (Guatemala) - Analysts at Rabobank, while waiting for Eurozone officials to start their emergency summit on Greece, gave us a look at EUR/USD from the perspective of technical analysis.

Key Quotes:

The price action on the weekly chart resembles an inverted head and shoulders formation. Admittedly, it is not an example that one would necessary use if/when writing a book about technical analysis, but the trendline resistance marked on our chart at 1.1440~ stands out as crucial at this stage.

This could be a neckline with the left shoulder at 1.11~ (set in January) and the right shoulder at 1.0819 (end of May low) forming an inverted H&S formation.

A break above the neckline/trendline resistance would be a very constructive signal for EUR/USD.