FX:EURUSD Euro Fx/U.S. Dollar
The EUR vs USD Is currently approaching a strong demand zone. I see this as a strong demand zone because the market gapped down on Sunday's open to this level but rapidly filled the gap within the 24 hour period. The gap down was about 125 pips and the market filled the gap with a 329 pip move to recover the gap. The move away from the level was very strong and a strong sign of institutional buying! Even with the Greece debt crisis the pair was able to recover the gap. This level is also a strong zone between 1.10511 & 1.09926 as you can see by the green arrows on the chart how many times this zone was tested as . With so much going on with the euro and Greece this pair could become very unstable but based on current I have to take a short term bias on the pair. Probably not a pair to take a trade on until all this Greece crisis is solved. You can check me out at www.fxatoneglance.com but until next time God bless!