Dear Surfers, Let’s take a look at the market:
How did it go yesterday?
The Greek situations is the major influencer of the markets during these days, because of that the price are moving with uncertainty. Yesterday prices remained above the 1,1100 level, with a daily range of 110 pips.
Today the prices are trying to remain above the 1,1100 support where we have also a trendline. We may observe strong acceleration with a trendline breakout. The DP is already tested and the DMW triad is still in a neutral position.
Plan of the day
We will focus all our attention to how the price is going to approach the trendline. We cannot exclude a rebound with the touch of the 1,110 support and the consecutive achievement of area 1,200, in fact we also spotted a bullish macropattern that is strengthening this view. We already sent a signal today, but because of the eurogroup meeting, we are using a reduced risk.
Relevant economic news:
All Day EUR Eurogroup Meetings
2:15pm USD ADP Non-Farm Employment Change
4:00pm USD ISM Manufacturing PMI
Surfingthepips staff wishes you all a good day.
Daniele Angellotti Certified Trader | SurfingThePips.com