EUR/USD overview for June 29, 2015

June 29, 2015

General overview

We just highlight the money supply changes report among the published macroeconomic releases. The ECB QE is in full swing, we expect money supply aggregate M3 increase. Still not an inflation problem is on agenda but Greek with its default menace. The Greek debt situation has not been solved yet. Greece broke off negotiations with the creditors. There will be a referendum on the issue on July 5.

The downward trend stopped at the support level of 1.1150 and got into a three-day consolidation. The current price is trading at levels ranged 1.1260 - 1.1150

The price is finding the first support at 1.1150, the next one is 1.1050. The price is finding the first resistance at 1.1260, the next one is at 1.1450.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is decreasing.

Trading recommendations

The potential decrease targets are two levels of support: 1.1150, 1.1050.

Publication source
Fort Financial Services information  Fort Financial Services reviews

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