Yesterday the EURUSD rose and closed in the green near the high of the day, on a narrow range day, creating an inside day. The pair continues to trade inside a daily support zone and is being supported by the 50-day moving average. Key levels for today are the same of yesterday, to the downside the 1.1097 what’s left of the daily support, to the upside we have the 1.1236 the upper band of the daily support and the 1.1288 the 10-day moving average.
EUR / USD was corrected higher yesterday, formed a peak of 1.1234. Trade signals are neutral for now, perhaps with slight bullish signals for testing the resistance 1.1250. A clear break above this level could lead to upward pressure testing 1.1300. Overall I still prefer a bearish scenario at this phase but need a clear break below 1.1180 / 65 for the continuation of the bearish scenario targeting near 1.1050. On the upside, a clear break and daily close above 1.1300 could trigger further bullish pressure on area 1.1380 - 1.1465 remains a good place for sales.
EUR/USD is still consolidating and testing the support at 1.1160. I still think it's possible that the pair will break below the support and continue falling towards 1.1050, but so far there are no signals it's about to do that.
The euro appears to be struggling to make gains above its 21 day MA 1.1217, but no direction yet. Everyone is probably very tired of Greece's deadline have been keep changing but hopefully they can reach some form of conclusion next week.
Yesterday the EURUSD moved back and forward as fundamental news from Greece hit the wire. The currency closed in the red near the open of the day creating a doji pattern but managed to stay above the 50-day moving average. Today may be a do or die for Greece as the three day EU summit ends on Saturday but we may get a glimpse of the Greece negotiations at the press conference scheduled later today at 13:00 (GMT).