9 Jul 2015
EUR/USD waiting for a break of 1.1070 or 1.1020; speculating about the weekend
FXStreet (Córdoba) - EUR/USD remains steady, moving in a small range, unaffected by US data, International Monetary Fund growth projections and Greek talks. The upside remains capped by the 1.1070 area while to the downside, the support at 1.1020, where daily lows lie continues to offer support.
A break of 1.1070 could boost the pair to the upside and probably toward 1.1100 and daily highs at are located at 1.1125. On the opposite, direction, below 1.1020, 1.1000 would be exposed; if the decline continues the next support might lie at 1.0970 (July 8 low).
EUR/USD ahead of another key weekend
Current clam in the forex market, could be affected by a storm on Monday, created by Greece. The weekend appears to be once again a definitive date as Greek officials and its creditors look for a new agreement for three years. But whatever it happens, the euro could move and for certain, there will be other key and decisive weekends in the months ahead.
“Even if a last minute agreement is reached some form of immediate support will required to prevent Greek banks becoming insolvent next week. If an agreement is not reached, the euro would likely come under more selling pressure early next week, and weakness could prove more persistent than in recent weeks”, wrote analysts from The Bank of Tokyo Mitsubishi UFJ.
A break of 1.1070 could boost the pair to the upside and probably toward 1.1100 and daily highs at are located at 1.1125. On the opposite, direction, below 1.1020, 1.1000 would be exposed; if the decline continues the next support might lie at 1.0970 (July 8 low).
EUR/USD ahead of another key weekend
Current clam in the forex market, could be affected by a storm on Monday, created by Greece. The weekend appears to be once again a definitive date as Greek officials and its creditors look for a new agreement for three years. But whatever it happens, the euro could move and for certain, there will be other key and decisive weekends in the months ahead.
“Even if a last minute agreement is reached some form of immediate support will required to prevent Greek banks becoming insolvent next week. If an agreement is not reached, the euro would likely come under more selling pressure early next week, and weakness could prove more persistent than in recent weeks”, wrote analysts from The Bank of Tokyo Mitsubishi UFJ.