EUR/USD, are you tired of 'Greek games'?
Greek Prime Minister Tsipras has entered into negotiations as a lion, and slowly turns into a kitten. Market reacts sharply on each headline/news from Greece and it’s almost impossible to place yourself into a right possition. I know it’s hard, but technical levels work in both ways. Don’t run for the price if you’re not already in, because sharp reversals are possible as you can see. There is no clear direction and I think it want be until the situation is not resolved with Greece. That’s why we must be very careful in these incoming days. The pair has find support eary today at 1.1110/15, but it slided later to 1.1095/100 where the buyers were ready and hold the price there until the news that Tsipras will accept the IMF terms now!? The pair jumped after that 50 pips ap to 1.1170, after wich the sellers have taken over again and return the pair down to the previous support at 1.1115 for now. The pair looks bearish despite these news from Greece and furder slide is possible, the bears would like to return the lost teritory. I wrote already yestreday that is not a good time for be the bull here, on the other side, there is buyers on every deep! It’s not easy to write something with sense here for days, but as I always say, watch the technical levels! On the way down, 1.1100/15 is first support, follows 1.1080/90 and 1.1050. On the way up, 1.1140/50 is first resistance, H1 and H4 MA’s 100 and 200 are above that level, 1.1220/35 is next. Lot’s of work for both sides.