Alex Bobrov
The common Euro currency is trying to consolidate above the resistance level and to initiate a rally. Probably the effort is conditioned by the positive efforts to find a solution to the Greek debt problem.
Some experts say that there is no fundamental difference in what ways and means to use in order to restructure Greece’s debt. It is important to understand that any denial of financial aid will result in a disaster.
Today’s news block on the US industrial sector is scheduled for 14:30GMT. FOMC Meeting Minutes are to come out at 18:00GMT.
For today’s American trading session the Department of Volume Analysis of has defined the following trends:
The mid-term trend of EURUSD is flattish
The short-term situation of 6EM1 (EURUSD futures) is the following:
If the efforts to break and consolidate below 1.4208 (a volume cluster of 4500 lots) are successful, they will probably reduce to nothing the entire upward correction against the downtrend. If the price gets back to the level and consolidates above it, EURUSD will probably see some growth.
Alex Bobrov
