13 Jul 2015
EUR/USD supported after bearish "time-out" of EZ gap for Greece
FXStreet (Guatemala) - EUR/USD is stuck in a tight range at 1.1115 at time of writing as we await the roll-out of headlines in respect to the Greek debacle and subsequent EU meetings and Greek talks.
EUR/USD price action
EUR/USD opened with a bearish gap down to 1.1092 lows before recovering to 1.1144 while the major currency changes hands in a tight 25 pip range currently on 1.1120 support in otherwise quiet progress in the FX space in Asia.
EUR/USD fundamentals
Besides Greece, Yellen spoke on Friday to give markets more of an insight on the Us economy and interest rates, implying in her speech that although the global outlook is uncertain, she feels that there will be rate hikes before the year is out, but sighted Greece as a major risk factor currently. The latest on Greek talks is that there are going on in to the early hours of the European morning while both sides continue to find a solution.
EUR/USD technically bearish
EUR/USD downside is wide open below the 55 DMA at 1.1168 on a closing basis. This means, unless the market can get a strong foot-hold on the 1.11 handle, changing hands below the gap and 55 DMA exposes 1.1000, 1.0980 that guards the downside towards 1.0819 May low ahead of the 1.0724, the 3 month uptrend. On the upside, with some of the premium already priced in of a Greek deal, 1.1215, 1.1280/1.1325 guards 1.1465.
EUR/USD price action
EUR/USD opened with a bearish gap down to 1.1092 lows before recovering to 1.1144 while the major currency changes hands in a tight 25 pip range currently on 1.1120 support in otherwise quiet progress in the FX space in Asia.
EUR/USD fundamentals
Besides Greece, Yellen spoke on Friday to give markets more of an insight on the Us economy and interest rates, implying in her speech that although the global outlook is uncertain, she feels that there will be rate hikes before the year is out, but sighted Greece as a major risk factor currently. The latest on Greek talks is that there are going on in to the early hours of the European morning while both sides continue to find a solution.
EUR/USD technically bearish
EUR/USD downside is wide open below the 55 DMA at 1.1168 on a closing basis. This means, unless the market can get a strong foot-hold on the 1.11 handle, changing hands below the gap and 55 DMA exposes 1.1000, 1.0980 that guards the downside towards 1.0819 May low ahead of the 1.0724, the 3 month uptrend. On the upside, with some of the premium already priced in of a Greek deal, 1.1215, 1.1280/1.1325 guards 1.1465.