EUR / USD rebounded on Tuesday, came up to the level of the first resistance 1.1430 (R1), and retracted slightly. While the pair are trading laterally between 1.1299 (S2) and 1.1463 (R2), the short term trend remains neutral. The larger trend is still downward. R3 - 1.15120 R2 - 1.14637 R1 - 1.14300 Daily Std. Pivot - 1.13817 S1 - 1.13480 S2 - 1.12997 S3 - 1.12660
We are still waiting for some big news from Greece, while the Euro is back to range against the dollar. So far we have received nothing but lack of progress, however report says Greece will formally ask for an extension to their bailout today, let's see.
EURUSD initially fell during yesterday session, but found enough buying pressure at the 10-day moving average to turn things back around and close near the high of the day. The pair continues to consolidate in a very choppy environment waiting for Athens to agree in a bailout deal.
The EUR/USD range continues but there is a doji candlestick in the daily filter chart, so I think we might see the pair drop to target 1.1250. That said, I doubt the bearish trend will continue without a correction and a significant move to the upside.
The EUR / USD rebounded slightly yesterday after the FOMC decisions. The Committee intends to keep interest rates near zero for longer. Market expectations were of an anticipated increase due to improvement in the labor market. The pair continues to trade laterally, with a neutral short-term trend. R3 - 1.15120 R2 - 1.14637 R1 - 1.14300 Daily Std. Pivot - 1.13817 S1 - 1.13480 S2 - 1.12997 S3 - 1.12660
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