EUR/USD, the euro sank to Greek deal!

eur-usd july 13.

Finally some positive news for Greece and EUR/USD fell for 100 pips. I can’t tell and I don’t want to speculate why the reaction is not in the opposite direction, but if we take a look at previous market reactions on the bad news, this is not surprise, right!? After the pair bounced up to 1.1196 and hit down trendline, selling pressure start and sellers pushed the pair down to 1.1050, or 50 pips bellow opening level for this week. The buyers finaly reacted here and stop the fall for now, but the pair is still looking bearish. H1 MA100&200 are placed here at 1.1060/67. If the pair don’t bounce from this level, we could see more decline toward daily MA100 at 1.1022, follows supports at 1.1000 > 1.0970 > 1.0920. On the way to recovery, 1.1120/30 is first resistance again, H4 MA100&200 follows, 1.1220/30 is the bears teritory. Interesting development for now, could we see more surprises today?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s