EUR/USD: general review on 02.06.2015

2 June, 2015

Current trend 

The single European currency remains under pressure: the euro has been badly affected by news from France this time. The number of the unemployed  increased up to a peak of 3.53 million  people.  An economic slowdown may become the main obstacle for the sitting president François Hollande that is going to make a second run for the presidency in 2017, as some experts think. Obviously, his promises to improve economy won't be realized.

The second problem is still Greece. Many still wonder whether or not the country will leave the EU. Last weekend, Greek Government made another attempt to agree on financial aid and debt refunding, but the parties failed to reach a compromise. EU's creditors demand that expenses be reduced by 3 billion euro, but Greek Government believes that such measures will only deteriorate the country's deplorable economy and cause social tension in Greek society.

Support and resistance

The nearest resistance level is 1.0986  (4/8 Murray). The support level is at 1.0925 (3/8 Murray).

Trading tips 

Go short after the level of 1.0925  is broken and place protective orders near a level of 1.0950 with a target at 1.0803.


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