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EUR/USD trades weak on Greece crisis, good to sell on rallies

FX:EURUSD   Euro Fx/U.S. Dollar
1641 6 14
EUR/USD             has broken major support 1.0483 and declined till 1.09529 as Greece crisis intensifies.

Greece PM Alexis Tsipras announced late Friday that referendum will be held on Jul 5th to decide whether to accept the bailout package by the international creditors.

The banks in Greece will be closed from today till Tuesday Jul 7th. ATM’s will be closed today and re-open tomorrow with withdrawals limited to EUR60 per day as ECB froze the Emergency Liquidity Assistance to Greek banks.

Technically EUR/USD             made a low of 1.09529 and recovered till 1.0436 in Asian session. Overall trend is weak as long as resistance 1.1100 holds.

On the higher side minor resistance is around 1.1050 (Support turned into resistance) and any break above would extend gains till 1.10680/1.1100 in short term.

The minor support is around 1.0950 (50% retracement of 1.0468 and 1.1465) and break below will drag the pair further down till 1.0865/1.0800 level.

It is good to sell on rallies around 1.1050-550 with SL around 1.1100 for the TP of 1.0955/1.0860.
stano.lajciak
a year ago
would hit SL in less than 15 minutes
Reply
tcas
a year ago
I'm long to target 1.11300
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tcas
a year ago
It was a good chance to have nice profit since market open. Especially on eurjpy.
Reply
MaryJane
a year ago
thanks for sharing
EURUSD with big bearish FLAG?

snapshot
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https://www.tradingview.com/chart/wmop0Wvq/
I think so
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lambathanh
a year ago
do you think EURUSD will turn to dow next step ? now is 1.119x
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