Greece Bailout Deal Sends EUR Higher Across the Board

It takes too much energy to be against something unless it’s really important. ~ Madeleine L’Engle

Good morning. The euro is strengthening across the board on Greece bailout news.

USD Index

Dollar’s decline continues after forming a reversal candle around 80. I guess it’s time to look at the range’s bottom where support is formed between 78 and 78.50

USD Index Chart Daily 2-21-2012USD Index Chart Daily 2-21-2012


$1.3300 is intact after last test, but upside remains favoured as stock markets are likely to rally in the next sessions, hence EUR following.

EURUSD Chart Daily 2-21-2012EURUSD Chart Daily 2-21-2012


The rally from 103 to 106 was very strong but maybe it’s time for a correction. 104.50/60 is where intraday support might be formed.

EURJPY Chart Daily 2-21-2012EURJPY Chart Daily 2-21-2012


Yesterday’s candle suggests that a correction is due. However, AUDJPY is one of the main stock market followers, so current pullback is most likely corrective and will be short-lived

AUDJPY Chart Daily 2-21-2012AUDJPY Chart Daily 2-21-2012


Recent candles are suggesting that rally attempts are short-lived and selling pressure is increasing.

AUDCAD Chart Daily 2-21-2012AUDCAD Chart Daily 2-21-2012


Resistance at .8400 is intact but upside remains under pressure, so keep an eye on it.

NZDUSD Chart Daily 2-21-2012NZDUSD Chart Daily 2-21-2012


About abwehra group

The Art&Science of Trading Gold
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