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$EURUSD Solid, Despite #Grexit Concerns

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$EURUSD Solid, Despite #Grexit Concerns

A rebound from new support established at 1.1204/03, and as we had expected on Thursday a push above 1.1380/86 to aim higher Friday.

Furthermore, whilst above 1.0819 we see a bullish bias through mid-June (from the prior push up through 1.1208).

For Today:

We see an upside bias for 1.1426; break here aims for 1.1467, maybe even for 1.1500.

But below 1.1327 opens risk down to 1.1250 and maybe back to 1.1204/03.

Short/ Intermediate-term Outlook - Upside Risks:

We see a positive tone with the bullish threat to 1.1467.

Above here targets 1.1534 and 1.1680.

Overshoot risk is higher for 1.1871.

What Changes This? Below 1.0819 signals a neutral tone, only shifting negative below 1.0658.

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2 Hour EURUSD Chart 


Daily EURUSD Chart


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Tagged in: EUR Euro EURUSD Forex FX

Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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