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EURo range trading

Very choppy range trading in the Euro today. There was no follow through selling after yesterday's two cent fall. Instead, the pair started to retrace those losses but didn't get past 1.1235 as Greek uncertainty continues.
Support is seen in pivotal 1.1050 - 1.1125 band that includes: 50 DMA, 1.12 big figure level, Monthly Pivot Point, Weekly Support 2 and 100 DMA. Given that it is summer, 1.1050 - 1.1450 range could well remain in play for several weeks to come.
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EURo declines overnight

In a bout of overnight USD strength, Euro fell 80 pips, breaking below the three-week rising wedge and the Monday low (1.1290) in the process. After the substantial stop run, it stalled ahead of Daily Support 2 just above 1.1250.
The pair is basically back to the pre-FOMC levels. If it doesn't bounce from here and instead continues to fall through 1.1200 - 1.1250, it may revisit 1.1050 - 1.1120 band (March/April range top, 1.11 level, 50 DMA, Monthly Pivot Point, Weekly Support 2, 100 DMA, 1.105…
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pipx 23 Jun

Lets hope this picks soon :-)

al_dcdemo avatar

It'd be nice! But I wouldn't bet a farm on it. Ok, maybe demo farm :)

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EURo surges ahead of the ECB meeting

Euro jumped 150 pips yesterday, after details of today's Draghi speech were released to the hedge fund community tick-up in CPI and in anticipation of a deal between Greece and its creditors.
The pair stalled ahead of 1.12 and 61.8% Retracement of May 15th to May 27th decline (1.1219). On the downside, support was found just above the broken Weekly Resistance 2 (1.1130), but the stronger may come in between 1.1075 and 1.1100 (100 DMA, Daily Pivot Point, 38.2% Retracement of yesterday's rally, Mo…
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