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Home » Technical Analysis » EURUSD technical selling into rallies continues

EURUSD technical selling into rallies continues

Posted by tarantulafx in Technical Analysis - July 6th, 2015 11:46 am GMT


EURUSD has dropped after Greek “No” vote on referendum which was held on Sunday. After a bailout proposal has been rejected EURUSD gapped down on early market open by 200 pips dragging EUR basket with itself. Technically selling into rallies towards 1.1100 ( DPP, 38.2, descending 3-touch trend line ) is the option as stops are presumably located just above 1.1130. Targets should be 1.0920 ,1.0880 and 1.0820. Have in mind that trading EUR pairs should be done with lower risk as any news about Greece and EU could get the price into a whipsaw mode.

As we could read in FXStreet Article which was published on Friday, level trade is an option to go with as the first target has been hit on Sunday “NO”.

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