Euro Hit By Greece Default Worries

EUR/USD Open 1.0739 High 1.0823 Low 1.0711 Close 1.0735 On Monday Euro/Dollar decreased with 110 pips. The European currency depreciated from 1.0823 to 1.0711 yesterday, matching the negative money flow sentiment at under -5%, closing the day at 1.0735. This morning the Euro is trading quietly, with movements at the lower end of yesterday’s range for now. On the 1 hour chart wide range trading has formed, while on the 3 hour chart the downward channel is still on hold. Break above the nearest resistance and yesterday’s top at 1.0823 may trigger further strengthening of the Euro. Going below yesterday’s bottom and first support at 1.0711, however, would confirm continuation of the bearish trend, towards next objective downwards 1.0600. Quotes are moving just below the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is positive and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals. Technical resistance levels: 1.0823 1.0936 1.1060 Technical support levels: 1.0711 1.0600 1.0477 Yesterday +22 pips gained on EUR/USD from the following signal: 5:30 GMT+1 Up EUR/USD at 1.0792 Limit 1.0766 Target 1.0842, exit given at 7:44 GMT+1. Total yesterday +81, as shown at the website.

EUR/USD 1 Hour Chart

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