Yesterday the EURUSD initially rose but found enough selling pressure at 1.1097 to give all its gains back to the market and closed in the red slightly below the open of the day, creating a doji candle pattern. Today we might see another attempt in the bullish side with the following resistance levels to watch: 1.1158 (50 day moving average), 1.1185 Fibonacci level (23.6) and a daily resistance at 1.1236. Do not forget the Greek summit on Sunday the 12 of July.
The pair reported a decrease of 40 pips on Thursday and then the euro was trading at a price of 1.1035 at the end of the session. The trading took place within the final values 1.1122 and 1.0991. Overall prospects for the EUR / USD remains negative, and the levels at 1.1090 / 1.1105 - indicative for the dominance of the bears.
Sherif Fares
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EUR/USD is bullish and broke the resistance level 1.1100, RSI is bullish, but the market is moving with cautious I think it is all due to the Greek crisis let's see what will happen in the weekend.
Latest news from Greece: ''The European Commission, European Central Bank and the International Monetary Fund have given a positive assessment of the Greek government's request to start negotiations on a new bailout, a person close to the matter said.'' --Reuters
victoriajensen
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We'll likely see a large upside gap on Monday on the EUR/USD chart and then the pair will continue to climb.
fxstrategist
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Eurusd
The Euro falls on Greek news, but not as much as it was expected.
The Euro falls on Greek news, but not as much as it was expected.
Extremely volatile session recorded the euro against the dollar on Friday. After all the trade concluded in favor of the single currency. The start was given at a price of 1.1034 as bullish sentiment dominated. A powerful upward momentum was recorded around noon when currencies peaked for the day at 1.1214 and so did test of resistance at 1.1240. However, the pair failed to overcome these levels and finished a course of 1.1144. Although the future direction depends mainly on the development of the crisis in Greece, short-term expectations are in favor of the euro.
On Friday session the EURUSD rose running into the 50-day moving average and closed in the green near the high of the day but below the 50-day moving average. The Greek drama “ended” this Monday morning although Greece has until Wednesday to pass the new proposals through parliament before negotiations for a bailout can begin.
chriswells
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Do you think EUR/USD downside is set to resume in the next week itself?
Sherif Fares
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EUR/USD faces another drop in the begining of the week with the Greece crisis getting more complicated.
victoriajensen
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The Eurozone and Greece finally reached an agreement but EUR/USD is dropping anyway. The pair is likely headed for the support at 1.0915.
Don't trust any agreement in the euro zone now. This is just the beginning. Grexit will definitely happen, followed by more exits. Eventually, how long it's actually going to take to devolve the Euro depends upon how much pain France and Germany are able to bear.
Vecchio said: “Any solution given to Greece in the short-term would be like bringing a car to the mechanic and only getting the fluids and tires changed when in reality the entire transmission needs to replaced”.
Both the Greek and its creditors know the fact that Greece unlikely repay its entire debts, which probably result the Euro's weakness today.
Both the Greek and its creditors know the fact that Greece unlikely repay its entire debts, which probably result the Euro's weakness today.
Yesterday the EURUSD initially tried to rally but found yet again selling pressure, at the 50-day moving average, to give all its gains back to the market and close near the low of the day with a wide range day. Key levels to watch today are: a daily resistance at 1.1097, Fibonacci levels the 38.2% (resistance) at 1.1058 and the 50% (support) at 1.0955.
The euro recorded a sharp drop against the dollar on Monday. At the beginning of the session bullish sentiment prevailed and there was lack of indications for depreciation of the single currency. The sudden change came after the pair scored peak at 1.1195. From then until the end of trading the bearish trend was leading. Bottom of the day was reached at 1.0996 and the finish line was crossed at a price of 1.1000. Thus, the euro lost 93 pips for the day.
