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Mid-Day Report: Euro Recovers Mildly as Focus Stays on GreeceEuro recovers mildly against dollar today despite some negative news from Greece. Prime minister Alexis Tsipras said that the new proposals were rejected by the creditors again. And he complained that "certain institutions insist in not accepting equivalent measures suggested by the Greek government," and, "the non acceptance of equivalent measures has never happened before. Neither in Ireland nor in Portugal. Nowhere!" Nonetheless, Eurozone finance ministers are still due to meet later today to discuss the proposals. And it's speculated that the discussions would involve some concessions from the Greek government on issues like surplus targets, pensions and privatization. And it's reported that some EU leaders are still targeting to conclude the negotiation before tomorrow's summit in Brussels. The development will remain a major focus. | |
Featured Technical Report | |
USD/CHF Mid-Day OutlookDaily Pivots: (S1) 0.9236; (P) 0.9311; (R1) 0.9414; More.... Intraday bias in USD/CHF remains neutral for the moment with focus on 0.9407 minor resistance. Break will suggests that rise from 0.9072 is resuming. More importantly, this will revive the case that down trend from 1.0127 has completed at 0.9072 already. In such case, further rally should be seen to 0.9542 resistance first. |
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Orders and Options Watch | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Session: Orders and Options WatchEUR: The single currency met resistance at 1.1235 and has retreated but bids are still seen at 1.1170, 1.1150 and 1.1130, buy orders are expected at 1.1100, 1.1080 and 1.1050, buying interest should emerge around 1.1030 and 1.1000. On the upside, offers are noted at 1.1235-45, 1.1280 and 1.1300, more sell orders are reported at 1.1330, 1.1350 and 1.1365, selling interest is tipped at 1.1380 and 1.1400-10. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forex Trade Ideas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade Idea Update: EUR/USD - Sell at 1.1265As euro has recovered after falling to 1.1135 yesterday and consolidation with initial upside bias is seen for corrective bounce to 1.1250, however, reckon 1.1280-85 would limit upside and bring another decline, below 1.1150 would bring weakness to 1.1125-30 (50% Fibonacci retracement of 1.0819-1.1436) and 1.1100 but downside should be limited and 1.1050-55 (previous support and 61.8% Fibonacci retracement) would hold Trade Idea Update: GBP/USD - Sell at 1.5835Although the British pound has rebounded after finding support at 1.5709 (just held above 50% Fibonacci retracement of 1.5487-1.5930 at 1.5708) and consolidation with initial upside bias is seen for test of the lower Kumo (now at 1.5807), reckon 1.5835 (previous support) would hold, bring another decline later. Below 1.5730-35 would bring another test of 1.5708-09, break there would bring a stronger retracement of recent rise to support at 1.5681 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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