Forex Signals – EURUSD Greek Debt Fiasco
Recap: A falling trend resistance developed on the 4h yesterday that was solid enough for us to put it on our S/R charts. That resistance broke at 3115 (PRO email was sent out at 01:08a UTC). We are currently long from that break.
Greece continues to inch closer to bankruptcy and/or leaving the Eurozone. Whether or not it will actually come to that is yet to be seen, but the lack of a deal has been enough to spook investors into a potential bearish reversal for the EU.
Trading Idea: Our targets for the resistance break long (first blue line) with targets at 1.32 for 85 pips. Our stop-loss is trailing beneath the rising trend support (second blue line) - if that support is broken we will close our long and get short with targets at 20/20/25/25 90 pips.
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