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Daily Report: Euro Stays Firm on Greece and ECBEuro stays firm as the strongest major currency this week. Traders seemed to be optimistic that Greece will finally strike a deal with international creditors. Greek prime minister Alexis Tsipras met with Eurozone Commission president Jean-Claude Juncker and head of Eurogroup finance ministers Jeroen Dijsselbloem yesterday. After the meeting, Dijsselbloem said the meeting was "good" and intense work would continue. Tspiras also mentioned that there was progress on on sticking point regarding the primary surplus and "there was a constructive will from the European Commission to reach a common understanding". According to some reports, the involved parties now target to wrap up the agreement by June 14. | |
Featured Technical Report | |
EUR/AUD Daily OutlookDaily Pivots: (S1) 1.4342; (P) 1.4413; (R1) 1.4550; More... EUR/AUD's rally continues as expected and reaches as high as 1.4603 so far. The strong break of 1.4443 resistance confirmed that fall from 1.53331 has completed at 1.3671. Also, that's taken as a sign of medium term reversal. Intraday bias remains on the upside for 1.4893 resistance next. On the downside, below 1.4443 minor support will turn bias neutral and bring consolidations first before staging another rally. |
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Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency has rallied after ECB press conference and in part due to higher German yield, barrier at 1.1200 and offers at 1.1220 as well as 1.1250 were tripped, though some sell orders are still noted at 1.1275 and 1.1300, selling interest is tipped at 1.1330 and 1.1350. On the downside, bids are now seen at 1.1190-00, 1.1160-70 and 1.1120-30, combination of bids and stops is located at 1.1080-90, fresh demand should emerge around 1.1050-60 and 1.1020-30. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea: EUR/GBP - Buy at 0.7300Euro only eased to 0.7253 (we recommended to buy at 0.7230) before surging again, suggesting the rise from 0.7055 is still in progress and may extend gain to 0.7400, however, as broad outlook remains consolidative, reckon upside would be limited to 0.7445-50 and price should falter below previous resistance at 0.7483 (last month's high), bring further broad choppy trading. Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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