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Daily Report: Euro Range Bound as Markets Await Greece Crisis SummitEuro remains in range as the week opens even though the Greece situation is once again at a make or break point. Eurozone leaders will meet in a crisis meeting to trying to bridge the gap between Greece and its international creditors as negotiation broke down last week. It's reported that Greece government pitched a last-ditch proposals to creditors over the weekend. European commission spokesman Martin Selmayr said that the new offer was " a good basis for progress" at the summit. Greek prime minister Alexis Tsipras briefed German Chancellor Angela Merkel and French President Francois Holland and EU head Jean-Claude Juncker in a phone call on Sunday. Tsipras will meet with European council head Donal Tusk before the start of the summit in Brussels today. | |
Featured Technical Report | |
EUR/AUD Daily OutlookDaily Pivots: (S1) 1.4553; (P) 1.4597; (R1) 1.4643; More... EUR/AUD is staying in range as the consolidation from 1.4767 continues and intraday bias remains neutral. Overall, near term outlook remains cautiously bullish as long as 1.4352 support holds. As noted before, recent development suggests that the medium term trend is possibly reversing. Above 1.4767 will target 1.4893 and then 1.5331 key resistance. Though, break of 1.4352 will dampen our bullish view and turn bias back to the downside. |
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Orders and Options Watch | |||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency found support just below 1.1300 and has rebounded in NY morning, bids are still noted at 1.1285-90 and 1.1240, buying interest is tipped at 1.1220, 1.1200 and 1.1185, fresh demand should emerge around 1.1150, 1.1130 and 1.1100. On the upside, offers at 1.1340-50 were filled but sell orders are seen at 1.1375-80, 1.1400 and 1.1440-50, selling interest is located at 1.1475, 1.1500, 1.1530 and 1.1550. | |||||||||||||||||||||||||||||||||||
Forex Trade Ideas | |||||||||||||||||||||||||||||||||||
Trade Idea: USD/CAD - Buy at 1.2220Although the greenback fell earlier this week in line with our bearish expectations, the subsequent rebound from yesterday's low of 1.2128 suggests low is possibly formed and consolidation with upside bias is seen for test of resistance at 1.2361 but break there is needed to add credence to this view, bring a stronger rebound to 1.2400-10, then 1.2440-45, however, only break of 1.2470-75 would signal the retreat from 1.2563 has ended and bring further gain to 1.2520-25. Trade Idea: EUR/GBP - Stand asideThe single currency has fallen again after meeting renewed selling interest at 0.7200 yesterday, suggesting near term downside risk remains for the fall from 0.7389 to extend further weakness to 0.7100-10, however, as broad outlook remains consolidative, reckon downside would be limited and price should stay well above support at 0.7055, bring another rebound later. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||||||||||||
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